Churchill Downs Incorporated purchases Preakness intellectual property rights for $85 million

LOUISVILLE, Ky. – Churchill Downs Incorporated (CDHN) announced a major purchase on Tuesday morning.

According to a release, CDHN reached a definitive agreement to acquire all trademarks and associated rights of the Preakness Stakes and Black-Eyed Susan Stakes for $85 million.

The Preakness Stakes is the second leg of the Triple Crown of Thoroughbred Racing.

The Black-Eyed Susan is a leading race for three-year-old fillies hosted at Pimlico Race Course ahead of The Preakness.

According to the release, the sale is expected to be completed following the 2026 Preakness Stakes.