Report: Maryland is considering a bid for Preakness rights

Maryland officials are considering making a bid to acquire the intellectual property rights to the Preakness Stakes, which Churchill Downs Inc. agreed to acquire for $85 million, The Baltimore Sun reported.

CDI announced its agreement to buy the rights from an affiliate of 1/ST Racing last month, and the state had 60 days to match it, according to the report.

A spokesperson for Gov. Wes Moore told the Sun that discussions are in the preliminary stage and no decision has been made.

“Since the news of Churchill Downs’ intent to acquire the Preakness intellectual property from The Stronach Group last month, the state has been in close communication with partners and stakeholders regarding the implications of this acquisition on the future of the Preakness and Maryland’s horse-racing industry,” spokesperson Ammar Moussa told the Sun.

Maryland is spending $400 million to rebuild Pimlico, home of the Preakness. Questions surrounding the proposal include where the $85 million would come from and whether the state is equipped to oversee Preakness branding and maximize its potential, according to the report.