State will spend $85 million to retain rights to Preakness, Black-Eyed Susan stakes

By: Steve Crane, Mayah Nachman

Outlets: Maryland Matters

Published: June 19, 2026

Words: 1,033

Last Updated: 1 month ago

Body Text Preview

The state said Thursday it is exercising its option to match an $85 million offer to retain the intellectual property rights to the Preakness Stakes and the Black-Eyed Susan Stakes, which were on the verge of being sold to the owners of the Kentucky Derby.

Money for the deal will come from tax-exempt revenue bonds to be issued by MEDCO, the Maryland Economic Development Corp., and repaid with revenues from the two signature races, “including …

Create a free account to access this story and more

Join Plucky Wire to access full stories, collaborate with newsrooms, and discover content from networks around the world.

About

FAQ

Email Us