Maryland Faces Critical Decision Over Preakness Stakes Intellectual Property Amid $500M Investment
Sale of Preakness and Black Eyed Susan Stakes IP to Churchill Downs Raises Questions About State’s Financial Commitments and Control
Churchill Downs Incorporated’s April 2026 agreement to acquire the intellectual property rights to Maryland’s Preakness and Black Eyed Susan Stakes from 1/ST Maryland LLC, controlled by the Stronach family, has sparked debate over the state’s substantial investments exceeding $500 million in horse racing infrastructur…