Maryland reaches deal to buy the Preakness Stakes from Churchill Downs, giving the state formal control

Gov. Wes Moore used Maryland’s new ownership of the Preakness Stakes to make immediate changes to the race’s future. After the state finalized an $85 million purchase of the Preakness and Black-Eyed Susan intellectual property rights on July 31, Moore announced on August 5 that the Preakness will move back one week beginning in 2027 and shift to Sunday for the first time. Maryland Jockey Club officials and NBC Sports also announced a multi-year media extension that keeps the race on NBC and Peacock through 2032. The timing came days after Churchill Downs Inc. and the New York Racing Association unveiled a new six-race “Thoroughbred Championship Series” for 3-year-olds that does not include the Preakness. Moore said the exclusion validated Maryland’s decision to control the race itself, and CBS Baltimore quoted him saying, “Maryland now owns the rights. Marylanders now own the assets. Marylanders will make the decisions.” (marylandmatters.org) ### How did Maryland get control in the first place? Maryland finalized the purchase on July 31, using financing through the Maryland Economic Development Corp., or MEDCO, rather than tax dollars, according to state officials. The deal matched Churchill Downs’ earlier $85 million agreement with 1/ST Maryland LLC because Maryland had retained a right to match any outside offer for the race properties. (theracingbiz.com) June 18 was the date Churchill Downs said it had been notified that Maryland would exercise that matching right under state law. Churchill Downs CEO Bill Carstanjen said then that the company understood why Maryland would choose to acquire the Preakness intellectual property as a state-owned asset. (marylandmatters.org) ### What exactly changed in the race calendar? August 5 brought the clearest change: the Preakness will move to the fourth Sunday in May starting in 2027. That places the race three weeks after the Kentucky Derby instead of the traditional two-week gap, and in 2027 the race is scheduled for Sunday, May 23, with the Belmont Stakes set for June 5. (churchilldownsincorporated.com) The Black-Eyed Susan Stakes will also move within the weekend schedule. NBC Sports said the Black-Eyed Susan will be showcased on Saturday on NBC and Peacock, while the Preakness takes the Sunday broadcast window. ### What is in the television deal? (cbsnews.com) NBC Sports said on August 5 that its new agreement with the Maryland Jockey Club runs through 2032. The network said the extension will make NBC the longest-running media home of the Preakness, continuing a relationship that began in 2001. (nbcsports.com) The new arrangement covers the Preakness Stakes, the Black-Eyed Susan Stakes and broader Preakness weekend programming across NBC and Peacock. Gov. Moore said the schedule and media changes would give the event broader reach, while Maryland Jockey Club CEO Bill Knauf said the extra week should allow greater participation without changing the race’s place in the Triple Crown order. (nbcsports.com) ### Why did Churchill Downs leave the Preakness out of its new series? Churchill Downs and NYRA announced on August 3 that their new series would begin in 2027 and span six races over five months, with a $5 million prize pool and television split between NBC and Fox. The Preakness, the Haskell and the Pennsylvania Derby were among the notable exclusions. (cbsnews.com) The companies did not include Maryland’s race in the launch announcement, and Maryland officials responded by emphasizing state control over the event’s date, presentation and commercial arrangements. Moore told reporters the state could now direct the race’s future because it owned the underlying rights. ### Which state agencies and partners now matter most? (theracingbiz.com) The Maryland Stadium Authority already owns Pimlico Race Course and is spending about $400 million on a teardown and rebuild of the facility, according to Maryland Matters. Laurel Park hosted the 2026 Preakness while Pimlico was under construction, and the state is also in the process of acquiring Laurel for conversion into a state-owned training facility. (theracingbiz.com) MEDCO structured the financing, the Maryland Jockey Club is handling race operations, and the governor’s office has taken the lead on public rollout. Because the race date changes in 2027 and the event is expected to return to Pimlico, the next implementation steps run through venue construction, media planning, transportation, tourism promotion and event security with Baltimore and state partners. That operational outline is an inference from the state’s ownership, the Pimlico rebuild and the announced 2027 schedule. (marylandmatters.org) May 23, 2027 is now the next fixed milestone. NBC Sports, the Maryland Jockey Club, the Maryland Stadium Authority and Gov. Moore’s administration will be the named participants as the 152nd Preakness returns on its new Sunday date at Pimlico, if construction stays on schedule. (cbsnews.com) (marylandmatters.org)