From the Maryland Jockey Club & Churchill Downs Media Teams:

TMJC Statement on Preakness Intellectual Property Rights Purchase


BALTIMORE, MD — The Maryland Jockey Club (TMJC) recognizes and applauds Governor Moore’s decision to exercise the State of Maryland’s right of first refusal and to acquire the intellectual property rights to the Preakness Stakes and Black-Eyed Susan Stakes. This historic action ensures that one of America’s most iconic sporting brands remains fully in Maryland’s hands.

Building on a reimagined Pimlico Race Course and a future training center at Laurel Park, TMJC is enthusiastic about continuing to serve as the operational steward of the Preakness and Black-Eyed Susan and to help advance Maryland racing.

“Thank you to Governor Moore and First Lady Dawn Moore for their leadership in making one of the most significant industry decisions in Maryland’s history,” said Jim Dresher, Chairman of the Board of TMJC. “Retaining the Preakness in Maryland safeguards the event’s future, and TMJC and its Board of Directors are committed to advancing that vision.”

“In keeping with Governor Moore’s vision, the Maryland Jockey Club is ready to further elevate the Preakness into a world-class, bucket-list event for Marylanders and racing fans worldwide,” said Bill Knauf, President and General Manager of TMJC. “We are also excited to work with our strategic partners on new events and entertainment options leading up to Preakness weekend. We very much look forward to collaborating with our Triple Crown partners.”

With support from the Maryland Thoroughbred Horsemen’s Association, TMJC pledges that racing will remain a vibrant, year-round industry in Maryland. Together, the Governor and TMJC are building something enduring — a world-class racing destination that honors 150 years of tradition and delivers economic growth across Park Heights, Baltimore, and the state.

Churchill Downs Incorporated Announces 

State of Maryland’s Decision to Acquire the Preakness IP Rights

 Louisville, KY., (June 18, 2026) – Churchill Downs Incorporated (Nasdaq: CHDN) (“CDI”, “we”) announced today that we have been notified by the State of Maryland of the State’s intention to exercise rights under Maryland Code Ann. Bus. Reg. §11-520(d) to acquire the intellectual property, including all trademarks and associated rights, of the Preakness Stakes and Black-Eyed Susan Stakes (the “Preakness IP Rights”) from 1/ST Maryland LLC, an affiliate of 1/ST Racing, by matching the purchase price of CDI’s previously-announced agreement to acquire the Preakness IP Rights for $85 million.

“We understand why the state of Maryland would decide to acquire the Preakness IP rights as a state-owned asset from 1/ST Maryland LLC,” said Bill Carstanjen, Chief Executive Officer of CDI. “We remain committed to working with the Governor and other elected leaders and horse racing constituents in Maryland to fully realize the potential of a redeveloped Pimlico and Preakness Stakes within the Triple Crown and the broader sports and entertainment landscape.”