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Churchill Downs Pays $85 M, Moves Preakness to Sunday

8/7/2026

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Summary

Churchill Downs Purchase

Churchill Downs Inc. and the New York Racing Association announced a 2027 series that will include the Kentucky Derby and Belmont Stakes, exclude the Preakness, and offer a $5 million prize pool.
The Preakness is scheduled for Sunday, May 23, 2027, 22 days after the Derby on May 1, 2027.
Churchill Downs Inc. will purchase the Preakness IP from 1/ST Racing for $85 million and license it to Maryland.

Summary

NBC Sports Extends

NBC Sports signed a six-year extension that will double the Preakness’s media revenue compared with the prior contract.
Industry analysts warn that moving the race to Sunday could cut the betting handle because Sunday generates lower wagering than Saturday.
Governor Wes Moore said the new schedule will bring “tremendous excitement” to Baltimore’s economy, while the Greater Baltimore Committee estimates the Preakness supports more than 28,000 jobs and significant tourism revenue.

History

Historical Context

The Preakness debuted in 1873 at Pimlico, named for the colt Preakness, and became the Triple Crown’s middle leg after the 1932 Derby-Preakness-Belmont ordering. Maryland officials shifted it to the Saturday before the Belmont in 1977, cementing the modern schedule. In 2026 Churchill Downs bought the Preakness IP for $85 million and a new date—fourth Sunday in May—promises another betting and economic shift.

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Churchill Downs Purchase

Churchill Downs Inc. and the New York Racing Association announced a 2027 series that will include the Kentucky Derby and Belmont Stakes, exclude the Preakness, and offer a $5 million prize pool.
The Preakness is scheduled for Sunday, May 23, 2027, 22 days after the Derby on May 1, 2027.
Churchill Downs Inc. will purchase the Preakness IP from 1/ST Racing for $85 million and license it to Maryland.

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