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Churchill Downs Incorporated said it has entered into an agreement to acquire the intellectual property for the Preakness Stakes and Black-Eyed Susan-Stakes from 1/ST Racing’s Maryland department for $85 million, subject to customary closing conditions.
Churchill Downs Incorporated says it has entered into an agreement to acquire the intellectual property for the Preakness Stakes and Black-Eyed Susan-Stakes from 1/ST Racing's Maryland department for $85 million
Churchill Downs Incorporated said Tuesday it has entered into an agreement to acquire the intellectual property for the Preakness Stakes and Black-Eyed Susan-Stakes from 1/ST Racing’s Maryland department for $85 million, subject to customary closing conditions. Churchill Downs, the home of the Kentucky Derby, plans to license the rights annually to the state of Maryland to stage the races. The parties expect the transaction to close after the next running of the Preakness, which is set to happen at Laurel Park on May 16 while Pimlico Race Course in Baltimore is rebuilt as part of a major reconstruction project.
