Churchill Downs Acquires Preakness Stakes Intellectual Property for $85 Million
Churchill Downs Incorporated (CHDN) has agreed to acquire the intellectual property rights for the Preakness Stakes and Black-Eyed Susan Stakes for $85 million. The acquisition is expected to close after the 2026 Preakness Stakes and will be funded through cash and credit facilities. The move aligns with CDI's strategy to invest in high-growth Thoroughbred racing assets.
Topics: acquisition Churchill Downs intellectual property Preakness Stakes racing industry