April 21 (Reuters) - Churchill Downs Incorporated announced on Tuesday that it had entered into a definitive agreement to acquire the intellectual property of the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Racing for $85 million in a deal that unites the first two legs of U.S. thoroughbred racing's Triple Crown.The parties expect the transaction, which is subject to customary conditions, to close after the running of the May 16 Preakness Stakes at Laurel Park in Laurel, Maryland.Churchill Downs, ...

Churchill Downs Incorporated says it has entered into an agreement to acquire the intellectual property for the Preakness Stakes and Black-Eyed Susan-Stakes from 1/ST Racing's Maryland department for $85 millionFILE - Jockeys compete during the 150th running of the Preakness Stakes horse race on May 17, 2025, at Pimlico Race Course in Baltimore. (AP Photo/Stephanie Scarbrough, File)Churchill Downs Incorporated said Tuesday it has entered into an agreement to acquire the intellectual property for the Preakne ...

LOUISVILLE, Ky., April 21, 2026 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the “Company”, “CDI”, “we”) announced today that it has entered into a definitive agreement to acquire the intellectual property, including all trademarks and associated rights, of the Preakness Stakes and Black-Eyed Susan Stakes (the “Preakness IP Rights”) from 1/ST Maryland LLC, an affiliate of 1/ST Racing, for a purchase price of $85 million, subject to customary closing conditions (the “Transaction”). The Pr ...