Triple-Crown Tectonic Shift: Churchill Downs Buys Preakness From 1/ST [Forbes]
Churchill Downs, Incorporated (CHDN)
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Source: Forbes
agreed on an $85-million deal for the “intellectual property rights” for the storied 151-year-old Preakness — which is to say, in effect, Churchill now has the rights to stage and to profit from the running of the second jewel in the Triple Crown as well as the first. The landmark deal, announced on April 21, will be finalized at some point after this year's Preakness, which will be run by 1/ST at Laurel, with Pimlico now being rebuilt by the state of Maryland. The principals were understandably effusive about the, for the sport, enormous implications of the change of hands. For her part, Belinda Stronach was at pains to point out that 1/ST was by no means exiting racing, although the retreat from Pimlico and the Preakness does now mean that 1/ST will officially no longer have a public footprint in Maryland. Two of the nation's most popular and successful tracks, Santa Anita in California and Gulfstream in Florida, remain the major focus of the group, according to Stronach. For Ch
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- Early Kentucky Derby contenders: Expert picks for 2026 Triple Crown [USA TODAY]USA TODAY
- Churchill Downs (CHDN) Q4 2025 Earnings Transcript [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- 2026 Kentucky Derby projected field: Top 20 horses, those outside bubble [USA TODAY]USA TODAY
- Churchill Downs buys intellectual property rights to Preakness Stakes [Los Angeles Times (CA)]Los Angeles Times
- Churchill Downs to buy Preakness Stakes, Black-Eyed Susan Stakes brands for $85 million [CBS News]CBS News
CHDN
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- 3/26/26 - Form SCHEDULE
- CHDN's page on the SEC website