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Churchill Downs to buy Preakness Stakes, Black-Eyed Susan Stakes brands for $85 million
Churchill Downs Incorporated is set to acquire the trademarks and rights for the Preakness Stakes and Black-Eyed Susan Stakes brands for $85 million. This acquisition will give Churchill Downs management rights for the first two legs of the Triple Crown, including the Kentucky Derby, and aims to support the redevelopment of Pimlico Race Course and the Preakness Stakes. The agreement also includes Churchill Downs licensing the Preakness rights back to Maryland for a yearly fee, with the sale expected to close after the 2026 Preakness Stakes.