NOTE: The Office of the Governor shared the following press release:
ANNAPOLIS, Md. — Governor Wes Moore today announced that the Maryland Stadium Authority Board of Directors voted to approve a $48.5 million agreement with 1/ST Holdings to purchase the 229-acre Laurel Park to redevelop it into a best-in-class horse training facility.
The agreement saves the State of Maryland more than $50 million and marks a strategic realignment of the State’s plans to transform the Pimlico Race Course into the heart of statewide thoroughbred racing while securing the future of Maryland’s multi-billion dollar horse racing industry.
“Today, we are taking a historic step to preserve a legacy that has defined our state for more than a century,” said Gov. Moore. “By acquiring Laurel Park and establishing it as our statewide training hub, we are delivering a smarter, more cost-effective path to a world-class racing future. This agreement is cost-effective, creates a sustainable home for our horsemen, and ensures that the Preakness Stakes and Maryland racing remain global icons of excellence for generations to come.”
The acquisition is a central component of a strategic pivot that consolidates Maryland’s thoroughbred training operations at Laurel Park while transitioning the Pimlico Race Course into a premier ship-in racing venue.
The move is projected to save the State an estimated $26.3 million in construction costs by utilizing existing infrastructure for horse stalls rather than building new stables at Pimlico. The State will also realize $22.5 million in savings by pursuing market-led development alternatives for the Pimlico site.
Beyond capital savings, the Maryland Jockey Club expects to reduce annual operating expenses by $2.5 million through the consolidation of overnight racing staff at the new training center.
“The MSA Board’s action today is significant and truly transformational for a number of reasons,” said Maryland Stadium Authority Chairman Craig A. Thompson. “The citizens of Maryland and beyond should be proud of the teamwork, diligence and commitment to financial prudence that led to this important vote.”
The Maryland Stadium Authority and Carroll County government will be engaging in collaborative conversations regarding the future of Shamrock Farms, which was preliminarily identified as the future site of a horse training facility.
The 151st Preakness Stakes will run at Laurel Park as scheduled on May 16, 2026, before the Run for the Black-Eyed Susans returns to a reimagined and modernized Pimlico Race Course in 2027. Once the redevelopment is complete, Pimlico will serve as the permanent home of Maryland horse racing, hosting approximately 120 racing days annually.
Laurel Park will remain a year-round cornerstone of the industry, providing up to 1,200 stalls renovated by the Maryland Stadium Authority and state-of-the-art dirt and turf surfaces to prepare the next generation of Triple Crown champions.
Maryland’s equine ecosystem remains a vital pillar of the state’s economy, generating $3 billion in annual economic activity and supporting more than 28,000 jobs. With more horses per square mile than any other state, the industry accounts for 25 percent of Maryland’s agricultural land. Today’s announcement provides the long-term certainty necessary for horsemen, breeders, and workers to continue thriving in a sustainable and competitive racing ecosystem.
Following today’s announcement, the property acquisition recommendation will be transmitted to the Legislative Policy Committee for review. The Maryland Stadium Authority intends to submit the final transaction for approval at the Board of Public Works meeting later this year.
“Laurel Park has long been the heartbeat of Maryland’s thoroughbred racing community, serving as the place where horsemen, fans, and industry professionals come together every day to sustain and grow this sport,” said Kentucky Derby winning trainer and Maryland Thoroughbred Horsemen’s Association Board Member H. Graham Motion. “Ensuring its future through this transition is critically important—not just for today, but for the next generation of Maryland racing. Our horsemen are grateful to Governor Wes Moore and the General Assembly for their leadership and commitment to preserving this vital institution. This moment represents a meaningful step forward in strengthening the foundation of our industry and keeping Maryland racing moving in the right direction.”
“This is a defining moment for Maryland racing. Bringing Laurel Park under a nonprofit structure ensures that the focus remains where it belongs—on the long-term health of the industry and the people who power it every day,” said Maryland Thoroughbred Horsemen’s Association President Katharine M. Voss. “It creates an opportunity to align our resources, strengthen our community, and build a more sustainable future for everyone involved in this sport. We look forward to working together with the State of Maryland to move Maryland racing forward”.
“For those of us on the backstretch, Laurel Park isn’t just a place we race—it’s where we live, work, and dedicate our lives to our horses,” said Maryland Thoroughbred Horsemen’s Association Vice President Timothy L. Keefe. “This transition brings a sense of stability that means everything to trainers, owners, and the entire backside community. It gives us confidence that the focus will stay on supporting the people and horses that make this sport possible, and that Maryland racing will continue to have a strong foundation moving forward.”