Churchill Downs Buys Preakness Rights

The acquisition includes the trademarks for the Preakness Stakes and the Black-Eyed Susan Stakes, previously owned by 1/ST Racing.

While the race will continue to be held in Maryland under a licensing agreement, the deal grants Churchill Downs significant influence over the future of the Triple Crown schedule.

The transaction comes amid a broader debate within the industry regarding the timing and structure of the three historic races.

Churchill Downs officials stated the move is intended to preserve the legacy of thoroughbred racing while exploring new commercial opportunities.