Maryland Stadium Authority approves operating deal for Pimlico, Laurel Park

Todd Karpovich, Baltimore Sun on Oct 28, 2026

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BALTIMORE — The Maryland Stadium Authority approved an agreement Wednesday outlining operating responsibilities and financial oversight for Pimlico Race Course and Laurel Park as the state prepares to transition to a redeveloped Pimlico.

The agreement makes the Maryland Jockey Club the exclusive operator of both facilities, responsible for daily operations, maintenance and security. The stadium authority will retain ownership and responsibility for planning and overseeing authorized construction and upgrades.

The agreement also sets requirements for financial reporting, audits, maintenance planning and coordination of capital investments, according to the authority.

“We’re not just rebuilding Pimlico. We’re building the foundation for Maryland thoroughbred racing’s next chapter,” Craig Thompson, chair of the Maryland Stadium Authority’s board of directors, said in a statement. “The Board’s responsibility is to make sure the public investment we’re making today continues to deliver value for decades to come.”

The Jockey Club will oversee racing operations at both tracks and help coordinate the transition of primary racing operations to the redeveloped Pimlico.

The agreement comes as Maryland advances plans to modernize its thoroughbred racing facilities and establish a long-term operating structure for the industry.

The state is spending about $400 million to build a new Pimlico Race Course and another $120 million to transform Laurel Park into a year-round training center. The 2027 Preakness will return to Pimlico after being held at Laurel during construction.

In addition, the state paid $85 million in June to match Churchill Downs’ bid for the intellectual property rights to the Preakness and Black-Eyed Susan.

“This agreement is about more than operating two racing facilities. It’s about being clear on who’s responsible for what, protecting Maryland’s investment, and creating the conditions for these facilities to deliver lasting value for the industry, surrounding communities and taxpayers,” said Lindsey Parker, the stadium authority’s executive director.

Bill Knauf, president and general manager of the Maryland Jockey Club, said the organization was committed to providing racing and training facilities for horsemen and fans while building a sustainable future for the industry.

“Our partnership with the Maryland Stadium Authority is essential to realizing that vision, and we look forward to the work ahead,” Knauf said in a statement.