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Churchill Downs buys Preakness Stakes: Will Triple Crown change dates?
TL;DR
Churchill Downs Inc. has acquired the intellectual rights to the Preakness Stakes for $85 million, starting with the 2027 race. This deal may lead to changes in the scheduling of the Triple Crown events.
Key points
- Churchill Downs Inc. acquires Preakness Stakes rights for $85 million
- Acquisition effective from the 2027 Preakness Stakes
- Potential changes to Triple Crown scheduling
Mentioned in this story
Churchill Downs Inc.
Preakness StakesKentucky Derby
The Kentucky Derby could soon control the future dates of horse racing's Triple Crown.
Churchill Downs Inc., the parent company that owns the Kentucky Derby, announced on Tuesday, April 21, that it has reached a definitive agreement to acquire the intellectual rights to the Preakness Stakes for $85 million beginning with the 2027 edition of the race.
The acquisition announcement comes on the heels of a report that the Preakness Stakes could shift dates, as multiple networks and streaming entities jockey for the right to broadcast the second leg of the Triple Crown. The current NBC contract for the Preakness Stakes is set to expire after this year's race.
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How Kentucky Derby, Preakness Stakes deal will work
The deal is expected to close after the running of the 2026 Preakness Stakes, which will be held at Laurel Park in Maryland on May 16 as Pimlico undergoes renovations expected to be completed in time for next year's race.
Churchill Downs, Inc., will also control the Black-Eyed Susan Stakes for 3-year old fillies the day before Preakness as part of its agreement with seller 1/ST Maryland LLC, an affiliate of 1/ST Racing.
Churchill Downs, Inc. will license to the State of Maryland the intellectual property rights necessary to run the Preakness Stakes and Black-Eyed Susan Stakes in exchange for an annual fee. The Kentucky Derby at Churchill Downs in Louisville, Kentucky, is traditionally the first leg of the Triple Crown, with the Preakness Stakes at Pimlico Race Course in Baltimore scheduled for two weeks later.
Q&A
What is the significance of Churchill Downs acquiring the Preakness Stakes?
The acquisition allows Churchill Downs to influence the scheduling and management of the Preakness Stakes, potentially impacting the entire Triple Crown series.
When will the Preakness Stakes change ownership to Churchill Downs?
The ownership transfer will take effect starting with the 2027 edition of the Preakness Stakes.
How might the Preakness Stakes date change affect the Triple Crown schedule?
Changes in the Preakness Stakes date could lead to a restructured schedule for the Triple Crown, depending on broadcasting rights and agreements.
