The Maryland Stadium Authority has reached a tentative agreement to acquire Laurel Park from The Stronach Group, aiming to redevelop the historic site into a premier thoroughbred training facility. This move is projected to save the state around $50 million and secure the future of Maryland's horse racing industry amid Pimlico's redevelopment. The 151st Preakness Stakes will still take place at Laurel Park in May 2026 before racing returns to a revamped Pimlico.
The announcement, made on January 21, 2026, marks a significant step in reshaping Maryland's thoroughbred racing landscape. Laurel Park, a 229-acre venue in Anne Arundel County that opened in 1911, has long served as a key racing and training hub in the mid-Atlantic region. The state has leased the facility from The Stronach Group since January 1, 2025, as part of a broader transition while Pimlico Race Course undergoes major redevelopment under a master agreement approved in May 2024. Under the new deal, the Maryland Stadium Authority will assume ownership, pending approvals, with the Maryland Jockey Club continuing to manage daily operations. The acquisition will consolidate racing and training at Laurel Park, which features about 1,100 horse stalls, transforming it into a statewide training center. Pimlico will shift to a 'ship-in' model, where horses and trainers travel to the venue only on race days, eliminating the need for permanent stalls and saving an estimated $26.3 million in construction costs. This approach will also preserve around 1,000 parking spaces at Pimlico and cut annual operating expenses by $2.5 million through centralized staffing at Laurel. Additionally, the state will forgo a large-scale event center at Pimlico, saving another $22.5 million, while still developing enhanced clubhouse spaces including a restaurant, sports bar, and meeting areas for up to 1,500 people. Maryland Stadium Authority Chairman Craig A. Thompson described the purchase as 'the first step in writing the next chapter of Maryland’s rich thoroughbred racing heritage,' emphasizing its role in preserving a storied facility and fostering future Triple Crown champions. Maryland Jockey Club Executive Director Bill Knauf highlighted Laurel Park's ideal conditions, noting that the transition 'minimizes disruption for horsemen and staff.' The equine industry in Maryland generates about $3 billion in economic activity, supporting over 28,000 jobs and $1.2 billion in wages, with the state holding more horses per square mile than any other. Officials expect the initiative to sustain around 500 jobs at Laurel. A task force will soon evaluate the future of nearby Shamrock Farm, potentially as a horse rescue sanctuary. The 151st Preakness Stakes remains scheduled for May 16, 2026, at Laurel Park, after which the event will return to Pimlico in spring 2027. The reimagined Pimlico will host approximately 120 racing days annually, becoming the permanent home for Maryland horse racing. Maryland Thoroughbred Horsemen’s Association President Katharine M. Voss praised the plan for providing 'long-term certainty for horsemen' and ensuring the industry's sustainability.