A January recommendation by the Maryland Thoroughbred Racetrack Operating Authority to renovate Pimlico Race Course and move the state’s racing operations from the Stronach Group to a state-owned, nonprofit-managed arrangement has taken a significant step toward becoming reality.
The Baltimore Sun and other media outlets reported March 14 that state lawmakers are considering legislation that would move the Maryland Jockey Club to that new model while also rebuilding Pimlico and constructing a training facility. The January report estimated a $400 million cost for the the Pimlico renovations and the new training track, with $275 million-$285 million needed for Pimlico.
Racing authority chair Greg Cross said he hopes the legislature passes the bill.
“Every 10 years, the legislature tried to solve the problem and every 10 years they kicked the can down the road with Band-Aids,” Cross told the Baltimore Sun Thursday. “This is the first time we’re actually doing something new. We’ve tried and tried and we’re finally there, so I certainly hope the legislature passes it.”
Under the legislation, which closely mirrors the recommendations in the January reports, the Stronach Group would transfer the Pimlico property to the authority with the nonprofit group taking over daily racing operations Jan. 1, 2025. The Stronach Group (1/ST Racing), would continue to operate the Preakness Stakes (G1) through 2026, when the new nonprofit group would take over the state’s signature race.
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The January reports note that under the plan, the Stronach Group would retain the right to develop the Laurel Park property while racing would be consolidated to the rebuilt Pimlico.
Under the plan, the Preakness Stakes would be contested at Pimlico this year and in 2025. It would be contested at Laurel Park in 2026 to allow time for the Pimlico renovations. It would then return to the new Pimlico in 2027.
The Stronach Group (1/ST Racing) executive vice chairman Craig Fravel issued this statement on the legislation to BloodHorse and other outlets.
“Since the announcement in early January, which outlined a framework for an agreement in principle between The Stronach Group, The Maryland Jockey Club, and the Maryland Thoroughbred Racetrack Operating Authority, the parties have engaged in extensive negotiations directed at finalizing a comprehensive agreement,” Fravel said. “That agreement aims to secure a sustainable future for the Maryland Thoroughbred racing industry and ensure the successful operation of Pimlico Race Course and the Preakness in Baltimore.
“We thank Greg Cross and the MTROA board. We look forward to the legislative consideration process and collaborating with the MTROA and Maryland stakeholders to usher in a new era for racing in the State.”
The Baltimore Sun reports that under the bill, Stronach would license for an annual fee the rights to the Preakness to the nonprofit operator. That nonprofit would run the meet and, after paying that fee, retain revenues from Preakness weekend. The rights fee for the Preakness has not been determined.
The January plans identified sites at the former Bowie Race Course, Shamrock Farm in Woodbine, Md., and the Mitchell Farm Training Center in Aberdeen, Md., be considered for the possible training site. All are within an hour’s drive of Pimlico.
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