Churchill Downs Acquires Preakness Stakes, Strengthens Triple Crown Grip

0:00Churchill Downs Incorporated, just dropped $85 million to snag the intellectual property rights to the precness stakes, the second. Jewel in horse racing's triple crown, they're the owners of the Kentucky Derby, so this move puts two legs of the crown under one roof. The deal closes right after this year's precness on May 16th, with the Derby kicking off on May 2nd. They plan to lease those rights back to the Maryland Jockey Club for some undisclosed fee, similar to the current setup where 1st T Racing charged. $5 million a year. This comes as pinnacles getting a massive rebuild, with the state ponying up $400 million, and this precness shifting to Laurel Park. With way fewer fans, leaders on both sides are hyped, calling it a power play for the triple crown's future and growth in racing. Fans and insiders wonder if it'll tweak the tight two-week gap between Derby and Preakness, since recent winners have skipped it. It would mean bigger fields and more Derby stars showing up.

1:00Meanwhile, 1st T Racing stepping back for Maryland after handing over Pimlico, basically for free before. They're focusing on California and Florida tracks amid slumping purses and TV shakeups, like the precness losing NBC after this year. Churchill's tight with NBC, so broadcasting my consolidate. This amps up Churchill's sway over the triple crown, setting the stage for smarter scheduling, better TV deals, and a stronger push to keep. Thorough bread racing thriving long-term. You've been listening to California News today, AI-powered local news.