Will the Preakness Stakes move? A refresher on the second leg of the Triple Crown

Yahoo Sports3h ago16 min readOriginal source →

TL;DR

Churchill Downs has agreed to acquire the Preakness Stakes for $85 million after its 2026 running. The acquisition also includes the Black-Eyed Susan Stakes, but future location plans for the Preakness remain unclear.

Key points

Churchill Downs to acquire Preakness Stakes for $85 million
Acquisition includes Black-Eyed Susan Stakes
Future location of Preakness Stakes remains unclear
Bill Carstanjen comments on the acquisition's significance

Mentioned in this story

Churchill Downs IncorporatedPimlico Race Course

Preakness StakesBlack-Eyed Susan Stakes

Louisville's Churchill Downs has entered into a definitive agreement to acquire the Preakness Stakes after its 2026 running.

The second leg of the Triple Crown of Thoroughbred Racing is being purchased for a price of $85 million. Churchill Downs will also acquire the Black-Eyed Susan Stakes, a race for three-year-old fillies traditionally conducted at the Pimlico Race Course the day before Preakness.

“This acquisition adds one of the most iconic brands in American sports to our portfolio and is consistent with our strategy of investing in premier Thoroughbred racing assets with long-term growth potential,” Bill Carstanjen, chief executive officer of Churchill Downs Incorporated, said in a news release. “

Churchill Downs has not yet commented on what the purchase means for the race's future location. For those not up to speed on the Preakness, here's a refresher.

Preakness Stakes: Churchill Downs to acquire Preakness Stakes for $85 million

Kentucky Derby 152 contender Chief Wallabee during a morning workout at Churchill Downs. The horses enters the Kentucky Derby off a third-place finish in the Grade 1 Florida Derby on March 28 at Gulfstream Park. He currently ranks 17th on the Kentucky Derby points leaderboard with 50. April 19, 2026