Preakness Stakes Excluded From New $5 Million Thoroughbred Championship Series

BALTIMORE — The Preakness Stakes has been left out of a new six-race championship series announced by Churchill Downs Incorporated and the New York Racing Association, prompting questions days after Maryland finalized an $85 million purchase of the race’s intellectual-property rights.

The Thoroughbred Championship Series is scheduled to begin in 2027 and follow leading 3-year-old horses from May through September using a unified points system.

The Preakness, traditionally held between the Kentucky Derby and Belmont Stakes as the second leg of the Triple Crown, was not included.

A $5 million prize pool will be awarded based on the final standings, in addition to the purses offered by each race.

Churchill Downs events will air on NBC, while NYRA races will air on FOX. Additional rules involving eligibility, nominations, points and prize distribution are expected to be released later.

Churchill Downs CEO Bill Carstanjen said the format is designed to create rivalries, standings and a season-long storyline for racing fans.

NYRA President and CEO David O’Rourke said the series would connect major racing events and showcase leading 3-year-olds throughout the season.

Its exclusion from the new championship, however, could give owners and trainers an additional financial incentive to plan around the Derby, Belmont and later summer races.

The championship begins with the Kentucky Derby, skips the Preakness and resumes with the Belmont Stakes approximately five weeks after the Derby.

Maryland officials and racing industry leaders have already faced concerns about leading Derby contenders bypassing Baltimore because of the traditional two-week turnaround before the Preakness.

The 2027 Preakness is expected to return to the rebuilt Pimlico Race Course after being held at Laurel Park in 2026 during construction.

Churchill Downs had previously reached an agreement to buy the rights from 1/ST Maryland. Maryland exercised its contractual right to match the offer and acquire the racing brands itself.

Gov. Wes Moore said the purchase would allow Maryland to control the Preakness’s future, avoid an escalating licensing arrangement and preserve the race as a cultural and economic asset.

The acquisition was financed through notes issued by the Maryland Economic Development Corporation. State officials said no General Fund money would be used and that the financing would be repaid using future revenue generated by the Preakness and Black-Eyed Susan, including wagering, ticketing and sponsorship income.

Republican Leaders Question State’s Risk

The exclusion drew criticism from Republican lawmakers who argued that owning the Preakness brand does not give Maryland control over decisions made by Churchill Downs and NYRA.

Senate Minority Leader Steve Hershey said the announcement showed that Maryland had assumed financial responsibility while other racing organizations continued shaping the sport’s future.

Moore’s office declined to comment on the Preakness’s omission when contacted by Maryland Matters. The Maryland Jockey Club also did not immediately respond to that outlet.

Some racing observers have questioned whether tension over Maryland’s decision to block Churchill Downs’ purchase played a role in the omission.

Neither Churchill Downs nor NYRA has described the decision as retaliation, and no direct connection has been established.

Maryland is investing approximately $400 million in the redevelopment of Pimlico Race Course.

The state is also pursuing a $48.5 million acquisition of Laurel Park to convert the property into a permanent thoroughbred training center after abandoning plans to use Shamrock Farm for that purpose.

State officials have argued that owning the Preakness rights, Pimlico and Laurel Park will allow Maryland to protect the industry and retain more of its economic value.

The new championship series demonstrates, however, that Maryland does not control the scheduling or financial incentives created by the operators of the other two Triple Crown races.

The Preakness remains a Grade 1 race and a central part of the Triple Crown, but its absence from the new $5 million competition adds uncertainty as Maryland prepares to return the event to Pimlico in 2027.

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