Baltimore’s beloved but deteriorating Pimlico Race Course has a new owner — the State of Maryland.
The Stronach Group, the owner of the racecourse and nearby Laurel Park, will transfer ownership to the Maryland Thoroughbred Racetrack Operating Authority for the cost of $1 on July 1. This means a long awaited rebuild of the home of the second jewel of horse racing’s Triple Crown, the Preakness Stakes, can finally take place.
The Maryland Board of Public Works — which includes the governor, state treasurer and comptroller — approved the agreement to transfer ownership to the state on Wednesday.
Last week, Gov. Wes Moore signed a bill passed by the state’s general assembly that set aside $400 million in state bonds to rebuild the course. The complicated process involves Maryland taking over control of the track, building a training center and eventually closing Laurel Park to shift full-time racing to Pimlico in the northwest quadrant of Baltimore.
Click here to read the rest of the article written by Ana Golden over at WTOP
