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Historic Pimlico Race Course transferred to State of Maryland for $1 (plus $400 million)
Historic Pimlico Race Course transferred to State of Maryland for $1 (plus $400 million)
Ana Golden | [email protected]
May 16, 2024, 6:51 AM
Baltimore’s beloved but deteriorating Pimlico Race Course has a new owner — the State of Maryland.
The Stronach Group, the owner of the racecourse and nearby Laurel Park, will transfer ownership to the Maryland Thoroughbred Racetrack Operating Authority for the cost of $1 on July 1. This means a long awaited rebuild of the home of the second jewel of horse racing’s Triple Crown, the Preakness Stakes, can finally take place. ... Maryland Gov. Wes Moore approved the agreement to transfer ownership to the state on Wednesday.
Last week, Moore signed a bill passed by the state’s general assembly that set aside $400 million in state bonds to rebuild the course. The complicated process involves Maryland taking over control of the track, building a training center and eventually closing Laurel Park to shift full-time racing to Pimlico in the northwest quadrant of Baltimore.
{snip}
Under the agreement, the state will lease Laurel Park racetrack for $1 per year for three years beginning on Jan. 1, 2025, to host the Preakness while the Pimlico is under construction.
{snip}
WTOP’s Alicia Abelson and The Associated Press contributed to this report.
Ana Golden
Ana Golden is an Associate Producer for WTOP. Ana attended Emerson College and studied Journalism and Political Communication. While at Emerson, she worked as an associate producer for her school’s TV station, interned on senate and gubernatorial campaigns, and worked as a news anchor on 88.9 WER.
[email protected]
Ana Golden | [email protected]
May 16, 2024, 6:51 AM
Baltimore’s beloved but deteriorating Pimlico Race Course has a new owner — the State of Maryland.
The Stronach Group, the owner of the racecourse and nearby Laurel Park, will transfer ownership to the Maryland Thoroughbred Racetrack Operating Authority for the cost of $1 on July 1. This means a long awaited rebuild of the home of the second jewel of horse racing’s Triple Crown, the Preakness Stakes, can finally take place. ... Maryland Gov. Wes Moore approved the agreement to transfer ownership to the state on Wednesday.
Last week, Moore signed a bill passed by the state’s general assembly that set aside $400 million in state bonds to rebuild the course. The complicated process involves Maryland taking over control of the track, building a training center and eventually closing Laurel Park to shift full-time racing to Pimlico in the northwest quadrant of Baltimore.
{snip}
Under the agreement, the state will lease Laurel Park racetrack for $1 per year for three years beginning on Jan. 1, 2025, to host the Preakness while the Pimlico is under construction.
{snip}
WTOP’s Alicia Abelson and The Associated Press contributed to this report.
Ana Golden
Ana Golden is an Associate Producer for WTOP. Ana attended Emerson College and studied Journalism and Political Communication. While at Emerson, she worked as an associate producer for her school’s TV station, interned on senate and gubernatorial campaigns, and worked as a news anchor on 88.9 WER.
[email protected]
