Maryland moves to match $85M bid for intellectual property rights of Preakness

Maryland moves to match $85M bid for intellectual property rights of Preakness

Maryland formally announced its intent to match an $85 million bid to purchase the rights to the Preakness Stakes. In April, Churchill Downs Inc. announced an agreement to purchase the intellectual property, including all trademarks and associated rights of the Preakness and Black-Eyed Susan Stakes, from 1/ST Maryland, an affiliate of 1/ST Racing for $85 million. The deal was expected to be finalized after this year’s Preakness. On Thursday, the…