Maryland takes ownership of historic Pimlico Race Course as it prepares for makeover

BALTIMORE - The state of Maryland has officially taken ownership of Baltimore's historic Pimlico Race Course as it plans to redevelop the venue.

The Stronach Group transferred ownership on Monday to the state which will begin demolition to make Pimlico a year-round site for thoroughbred racing.

All racing, training and wagering operations at the home of the Preakness Stakes will cease on Sept. 1. Site work and demolition is expected to start this fall.

The 150th running of the Preakness Stakes will be held at Pimlico Race Course on May 17, 2025. The race will move to Laurel in 2026.

Maryland Gov. Wes Moore signed a measure in May to rebuild Baltimore's historic but antiquated race course and transfer the track to state control.

Under the new law, Maryland can use $400 million in state bonds to rebuild the home of the second jewel of horse racing's Triple Crown.

The 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.