The Maryland Thoroughbred Racetrack Operating Authority  (MTROA) met July 15 to discuss preparations for the 150th Preakness Stakes at Pimlico Race Course May 17, 2025.

The Monday meeting originally was scheduled for the end of the month, but was moved up to accommodate a presentation by the Sport and Entertainment Corporation of Maryland, a nonprofit affiliated foundation of the Maryland Sports Commission that incubates, produces events, and delivers leadership through sports in the state of Maryland.

Subscribe now!

In cooperation with the MTROA, the organization is developing a public-private partnership group and leadership committee to host and deliver celebratory activities leading up to and around the 150th Preakness.

“Baltimoreans, Marylanders, and our visitors can participate in, witness, and enjoy activities each year in celebration of the history, longevity, and culture derived around the Preakness on an annual basis,” said Terrance Hasseltine, president of the Sport and Entertainment Corporation of Maryland.

Hasseltine said the long-term goal is to establish a sustainable model similar to the Derby Festival in Louisville, Ky., which hosts annual celebratory events throughout April in the lead-up to the Kentucky Derby. According to the Derby Festival’s website, a 2011 study conducted by the University of Louisville’s MBA program estimated the annual overall economic impact of the Derby Festival at around $127.9 million.

The Pimlico facility and the race’s popularity have declined in recent years.

“In the past, there have been Preakness festivals which have built up to the Preakness and promoted the Preakness as a larger civic event,” MTROA Chairman Greg Cross said. “Over the past several years, those have sort of waned. I personally want to see that reinvigorated as we start operating the Preakness in the new facility.”

The MTROA was transferred ownership of the Pimlico facility from The Stronach Group July 1. The state will also take over all regular racing and training operations Jan. 1. However, Cross reiterated that The Stronach Group will still own the rights to the Preakness until after the 2026 edition.

“We have no economic stake in the Preakness next year,” Cross said, “but the community and the state of Maryland have an enormous stake in it and we always want it to be successful.

Music will play a key role in planning the festival. (Eclipse Sportswire)

“They have the race and we’re trying to promote it to help them. We’ll do that with them, but this is our effort to promote around it.”

Hasseltine described the budget for the Preakness 150 project as a “moving target” while they identify plausible activities, analyze their constraints within the Maryland budget, and discover their ability to raise funds in the private sector.

According to Hasseltine, the festival will have an “anchor” event to celebrate the Preakness. This event will likely be a prime-time concert, and talks are already underway with the Baltimore Ravens and Orioles about an idea of a “mega concert” being held at one of their stadiums.

The anchor would be supported throughout the week by events such as fireworks, drone shows, balloon glows, and more.

“We’re taking some of the existing events that have occurred in the past and re-engaging them and rekindling them and bringing them to the forefront to create a week celebration leading into Preakness 150,” Hasseltine said. “Just build up the energy and momentum.

“Those [discussions] are ongoing until we can figure out what’s truly happening in the construction and development of the complex.”

Construction on a new Pimlico is set to begin this fall, with all racing and training operations ceasing at the Baltimore track Sept. 1.

Original plans called for the demolition of the grandstand and all but three barns ahead of the 2025 Preakness, but Cross revealed Monday that the grandstand will remain for one more year.

“It was actually increasing the cost and not going to save us any time and further complicate things,” Cross said. “We’re going to tear that down after the Preakness. ... It doesn’t delay the timeline, it just is a way to save us some money and make it more efficient.”

Fans enjoy a previous edition of the Preakness. (Eclipse Sportswire)

Plans call for the 2026 Preakness to be held at Laurel Park while construction is completed at Pimlico prior to the 2027 edition.

“The hope would be, if [the festival] is successful, it will provide a template for us moving forward,” Cross said. “When we get to 2027, we’re in the best possible position to reinvigorate the Preakness Festival.”

The MTROA board approved support of the Sport and Entertainment Corporation of Maryland’s Preakness 150 effort with the expectation that they will receive a more in-depth development rollout in about 60 days that will reveal interested parties and conceptual plans.

Yolanda Jiggetts, CEO of Park Heights Renaissance, expressed her excitement for the project. Her nonprofit that empowers the local neighborhoods around Pimlico started a community festival three years ago with the same goal in mind.

“We’re here to help,” Jiggetts said. “This sounds like it totally complements what we’re doing already.”

“Part of this process is to ensure that we’re engaging with community leaders who are already doing some stuff and how do we interconnect those things to make sure they’re part of that bigger delivery of the entire asset that is the Preakness celebration,” Hasseltine said.