Just like that, is the Preakness Stakes over?
According to an announcement from Churchill Downs Inc. and the New York Racing Association on Monday, the entities have agreed to create a new "Thoroughbred Championship Series" starting in 2027 -- and the Preakness is not part of it, suggesting that Baltimore's iconic race and the Triple Crown itself, are finished.
The new six-race competition will create an annual season-long championship and races will be run on "three iconic racetracks" as promoted by Churchill Downs this morning – Belmont Park in New York (home of the Belmont Stakes), Churchill Downs (home of the Kentucky Derby) and Saratoga Race Course in upstate New York.
Pimlico Race Course, under construction, is not mentioned.
One champion. Six races. Three iconic racetracks.
— Churchill Downs (@ChurchillDowns) August 3, 2026
Beginning in 2027, the Thoroughbred Championship Series will unite six of racing’s premier events across Churchill Downs, Belmont Park, and Saratoga Race Course to crown America’s top three-year-old Thoroughbred. pic.twitter.com/zyJNic6vFL
What Is Going On? What's the Thoroughbred Championship Series?
CDI and NYRA formally unveiled the series on Monday, describing it as a season-long championship built around America's top 3-year-old Thoroughbreds.
The lineup leans on three marquee venues rather than the traditional three-track Triple Crown trail: Churchill Downs, Belmont Park, and Saratoga will host the series, beginning the first Saturday in May.
According to reporting from Thoroughbred Daily News, the six races are expected to be:
- Kentucky Derby — Churchill Downs, first Saturday in May
- Belmont Stakes — Belmont Park, June 5
- Matt Winn Stakes — Churchill Downs, date TBD in July
- Jim Dandy Stakes — Saratoga, late July/early August
- Travers Stakes — Saratoga, late August
- A championship finale — Churchill Downs, September
The series will reportedly carry a unified points system and a $5 million bonus pool distributed based on final standings, designed to incentivize top 3-year-olds to run against each other repeatedly across the season rather than skipping races. Broadcast plans are already taking shape, with Churchill Downs races airing on NBC and NYRA races on FOX.
CDI CEO Bill Carstanjen framed the series as a way to keep Derby fans engaged all summer, while NYRA president and CEO David O'Rourke tied it to Belmont Park's ongoing renovation and the sport's next generation of fans.
Wait — Didn't Maryland Just Win This Fight?
Yes. And that's exactly what makes Monday's news such a surprise.
Back in April 2026, Churchill Downs Inc. announced it had reached a deal to buy the intellectual property rights to the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Racing for $85 million — a move that would've handed CDI the branding for two of the Triple Crown's three legs. But Maryland held a right of first refusal on that sale. Gov. Wes Moore's office moved to match Churchill's offer in June, and the state officially closed the deal on Friday, finalizing its purchase of the Preakness and Black-Eyed Susan intellectual property for $85 million — funded through tax-exempt revenue bonds, with officials stressing no general fund tax dollars were used.
“We thank Governor Moore for his leadership on this acquisition and look forward to executing the State’s vision for a world-class Preakness and Black-Eyed Susan event next year at the new Pimlico,” Bill Knauf, President and General Manager of The Maryland Jockey Club, said in a statement on Friday.
The statement from Maryland also said: "The State remains committed to growing the Preakness and enhancing its status as a premier event in the Triple Crown. The Maryland Jockey Club has already secured partnerships with best-in-class industry leaders, including Oak View Group for sponsorship growth and KO Productions for world-class event production. While the State will now own the IP, it remains open to identifying areas of mutual interest with Churchill Downs and other industry partners to benefit the broader Triple Crown and the sport of horseracing."
Translation: Baltimore won that round. The Preakness brand belongs to the state, not to Churchill Downs. But Churchill and the NYRA are moving on in their own interests. Meanwhile, Maryland already owns the rights to Preakness, but also Pimlico itself -- which has long fallen into disrepair -- and is currently amid a plan to rebuild the facility and reopen in time for the 2027 Preakness after running the race at Laurel Racetrack this past May.
But the future of the Preakness, and the fate of more than 150 years of history and tradition, remains in question now. Owning the Woodlawn Vase and Preakness naming rights, it turns out, wasn't enough to get a spot in this new six-race series. Beyond that, is Maryland dragging its feet in behind-the-scenes talks with Churchill and the NYRA to be part of this series? Is the state interested in keeping Preakness alive? We think so, but there is clearly work to be done.
Silence From the Maryland Jockey Club
The industry publication BloodHorse reached out to Knauf, the Maryland Jockey Club president, for reaction to the Preakness being left off the new series. He declined to comment.
That silence says a lot. Maryland, for now, finds itself locked out of this new commercial structure that CDI and NYRA control jointly, complete with broadcast deals already lined up on NBC and FOX. The Preakness is left alone, without a TV deal for 2027.
Why This Should Worry Baltimore
For more than a century, the Triple Crown — Derby, Preakness, Belmont — has been horse racing's biggest storyline: three races, five weeks, one shot at history. If this new Thoroughbred Championship Series becomes the sport's primary commercial and broadcast vehicle going forward — with its own points system and $5 million bonus pool built entirely around Louisville, Elmont, and Saratoga Springs — Baltimore and the Preakness are rendered insignificant, a blow to the horse racing industry in the Maryland and economic activity in Baltimore each spring.
Nobody at CDI, NYRA, or the Maryland Jockey Club has said outright that the Triple Crown is dead. But holding the IP means little if the sport's new season-long spotlight shines everywhere except Pimlico. Maryland needs to step up its efforts to be part of this new series or see the Preakness go away forever.
What Happens Next
CDI and NYRA say more details on the race schedule, points system, eligibility rules, prize money, and branding are coming in the weeks ahead. Whether — and how — Maryland and the Preakness get worked into that plan is now the biggest open question in horse racing, in Baltimore, Maryland, and nationally.