Tag: pimlico
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Maryland on the Map: What Officials Finally Admitted to the General Assembly
Maryland officials told lawmakers the MJC loses money throughout the year, MEDCO financed the Preakness IP with a $97 million unrated loan, and the Stadium Authority does not intend to seek additional state funding.
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The Coalition Maryland Hasn’t Called Yet
A new track is being built in Florida’s horse country by serious people with serious money — fighting the same structural battle Maryland is fighting. Maryland should be on the phone. While Maryland’s Racing Commission held its August meeting largely in silence and the Governor’s office has yet to announce a single coalition partner for…
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The Coalition Maryland Hasn’t Called Yet
Florida’s Gilligan Racing is building a new thoroughbred track to protect racing from the same consolidation pressures Maryland faces. With Pimlico being rebuilt and the Preakness secured, Maryland should be talking to them now.
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What Moore Announced — And What Comes Next
Governor Wes Moore’s press conference outlined major updates for the Preakness Stakes, including a historic Sunday date and a broadcasting deal with NBC through 2032. While the announcements were substantial, concerns about governance, competition with new racing series, and the economic implications for Maryland’s $633 million investment remain unaddressed.
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Nine Minutes. One Question.
The press conference by CDI and NYRA lasted only nine minutes, addressing their new Thoroughbred Championship Series, which excludes Maryland’s Preakness. This prompted criticism regarding the lack of communication and potential negative impact on the Triple Crown. Maryland may face challenges if included in the series under CDI’s terms.
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Blindsided, Again
Churchill Downs announced a Thoroughbred Championship Series without including the Preakness Stakes, surprising Maryland officials who only learned of the plan through media. This follows Maryland’s $85 million acquisition of the Preakness IP. The series threatens the future of the Preakness and represents a significant strategic shift in American racing.
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The Bet That Already Lost
Governor Wes Moore’s $85 million investment in Preakness Stakes’ intellectual property failed as Churchill Downs built a competing championship series, omitting the Preakness. CDI strategically divested remaining Maryland properties, indicating its departure from the state. Maryland’s efforts to secure horse racing prominence were undermined, raising concerns about governance and operational competency.
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Maryland Is Trying to Buy Back a Race It Never Should Have Lost
Maryland plans to spend $85 million to reacquire the Preakness Stakes brand, previously owned by Churchill Downs Incorporated (CDI). The state’s history of mismanagement raises concerns about its ability to effectively steward racing assets. CDI, with its successful track record, holds significant leverage in the negotiations.
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Did Churchill Downs Give Wes Moore Buyer’s Remorse?
Governor Wes Moore’s $48.5 million purchase of Laurel Park, aimed at strengthening Maryland’s thoroughbred racing industry, faces a 45-day financial review that raises concerns. Past mismanagement and Churchill Downs’ acquisition of the Preakness name limit the state’s leverage. Moore must clarify if the investment strategy remains solid amid these challenges.
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The Preakness Doesn’t Need the Derby Winner. It Needs a Reason to Matter.
Golden Tempo will skip the Preakness Stakes for health reasons, highlighting a broader issue in Maryland’s horse racing industry. The current Triple Crown format relies too heavily on Derby winners, diminishing the Preakness’s significance. A proposed championship structure could enhance its value and attract competitors, ensuring it remains relevant regardless of Derby participation.
