The future of the Preakness Stakes in Maryland is looking shaky. Once an iconic part of the Triple Crown, the race faces serious challenges today. Recent trends suggest that fewer Kentucky Derby winners are participating, which takes away much of the excitement. In fact, since 2019, five Derby winners have skipped the Preakness.
What’s causing this drop-off? Many trainers point to the short two-week wait between the Derby and the Preakness. This year, big names like Golden Tempo and Crude Velocity are sidelined, opting for summer races instead. Without these top contenders, casual fans may lose interest.
The broadcast situation isn’t helping either. This year marks the last for NBC airing the Preakness. Ratings have been declining, making it less appealing to advertisers. Moreover, Churchill Downs Inc. recently acquired the rights to the race for $85 million, creating uncertainty about its future location. They could lease it out to another state, which raises questions about Maryland’s role in hosting the event.
Pimlico Race Course, the traditional home of the Preakness, is also struggling. While New York invested heavily in renovating Belmont Park, Maryland’s plans to overhaul Pimlico have become a mess. With over $400 million allocated for repairs, the project seems to be faltering. Initial plans to build a new training center fell through due to soaring costs. As of now, Maryland has delayed purchasing Laurel Park, the proposed alternative training site, by 45 days.
Political pressures are mounting too. Maryland State Treasurer Dereck Davis questioned the investment in horse racing during a recent meeting, asking if it could survive in a changing landscape. His concern reflects a growing skepticism about pouring money into an uncertain future.
The Preakness Stakes now finds itself at a crossroads. If horsemen aren’t interested, and financial support wanes, what will happen next? Adjusting race dates could help, but whether that’s a quick fix remains to be seen. Churchill Downs is clever, and they’re not acquiring the Preakness just for kicks. If Maryland can’t step up, they might relocate the race to one of their other properties, like Colonial Downs in Virginia.
Horse racing is indeed facing tough times, but major events still draw significant revenue. The fate of the Preakness is uncertain, but it’s clear that both the industry and its fans are at a pivotal moment. Will it adapt to survive, or will this iconic race fade into history?
