Exercises Refusal

Maryland Exercises Right of First Refusal to Acquire Preakness Stakes Intellectual Property, Blocking Churchill Downs’ $85M Bid

Maryland has invoked its statutory right of first refusal to purchase the intellectual property rights of the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Maryland LLC. This move effectively halts Churchill Downs’ $85 million offer made in April to acquire the IP. Governor Wes Moore emphasized the importance…