Churchill Downs to Acquire Preakness Brand in $85M Deal
Churchill Downs is expanding its reach in horse racing with a major deal. The company plans to buy the Preakness brand for $85 million, including trademarks and rights to the race. The Preakness is the second leg of the Triple Crown, between the Kentucky Derby and Belmont Stakes. The race will still be held in Baltimore, with the state licensing the rights back from Churchill Downs. The deal is expected to close after the 2026 Preakness Stakes.
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