Pimlico Race Course being donated to state to pave way for renovations
BALTIMORE - The owners of Pimlico Race Course -- the Stronach Group -- will donate "Old Hilltop" to the state of Maryland as soon as this summer.
The state will then be able to start renovations to the track and then eventually take over race operations.
The Stronach Group will still retain its ownership of Laurel Park in Anne Arundel County.
"Since the announcement in early January, which outlined a framework for an agreement in principle between The Stronach Group, The Maryland Jockey Club (MJC), and the Maryland Thoroughbred Racetrack Operating Authority (MTROA), the parties have engaged in extensive negotiations directed at finalizing a comprehensive agreement. 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," The Stronach Group and Maryland Jockey Club said in a joint statement.
The Preakness Stakes will be run at Pimlico this year and in 2025 before moving to Laurel Park in 2026 while the race track is being rebuilt.
Legislators will still need to pass a bill to use $400 million in state bonds to revamp Pimlico and build a state-of-the-art training facility.
"The idea that the Preakness and a rejuvenated Pimlico Race Course will remain in its rightful home in Park Heights for the foreseeable future is a monumental win - not just for the state and city, but for the residents of Northwest Baltimore," Baltimore City Council President Nick Mosby said. "I'm elated with the latest decision and I applaud the Governor and his leadership in this effort. This is the next step in a dream realized - a dream I started in my time in Annapolis when I made it a top priority that the Preakness Race remained in Baltimore City and long overdue capital investment was placed in Pimlico Racetrack. Today is a great day for that dream and Baltimore."
