The Maryland Stadium Authority Board of Directors approved a Facilities Operations Agreement Wednesday that puts the Maryland Jockey Club in charge of running Pimlico Race Course and Laurel Park, formalizing who handles the day-to-day work at both Baltimore-area tracks while the state keeps ownership. The deal arrives as crews push forward on rebuilding Pimlico, with the Preakness Stakes aiming to return there in the spring of 2027.
Under the agreement, the authority keeps its role as owner of the facilities and stays responsible for planning and delivering capital improvements, according to BloodHorse. The Maryland Jockey Club becomes what the agreement calls the exclusive operator, taking on day-to-day operations, maintenance and security at both properties. As CBS Baltimore reported, the board's vote formally splits ownership duties from operational control.
The agreement lays out the framework for operating, managing, maintaining and securing both Pimlico and Laurel Park, per a statement from Laurel Park. It also sets requirements for financial reporting, auditing, maintenance planning, security and coordinating capital investments between the two sides, BloodHorse's report notes.
Jockey Club Also Steers the Move to a Rebuilt Pimlico
Beyond daily upkeep, the Maryland Jockey Club will oversee racing operations and management at both tracks, including supporting the shift of primary racing operations to the redeveloped Pimlico Race Course, the same BloodHorse report states. That transition is central to the whole arrangement: Pimlico has been under construction since crews began demolition in July 2025, according to a 2025 Joint Committee Report filed with the Maryland General Assembly.
The project is expected to bring the Preakness back to Pimlico in May 2027. An August 2026 newsletter from the Maryland Stadium Authority described the project as a comprehensive redevelopment meant to turn Pimlico into a year-round racing and community destination, and it listed steel erection for the Preakness barns and paddock as a summer 2026 milestone.
Why a Single Operator Mattered
The push for a clear owner-operator structure didn't come out of nowhere. A 2023 state report had warned that construction could not proceed on its original timetable because program confirmation, funding and Laurel Park's operational structure were all still unresolved, with the authority stating plainly that “this timetable is no longer realistic.” By naming the Maryland Jockey Club operator, Wednesday's agreement settles the question of who will run Laurel Park.
State lawmakers had previously authorized the Maryland Stadium Authority to issue up to $375 million in bonds to finance the Pimlico and Laurel Park redevelopment under Chapter 590. The Racing and Community Development Financing Fund had approximately $140 million in cash.
Board Leaders Frame the Deal as Protecting Public Investment
Craig Thompson, chair of the Maryland Stadium Authority Board of Directors, framed the vote as a matter of long-term accountability. “The board's responsibility is to make sure the public investment we're making today continues to deliver value for decades to come,” Thompson said, according to BloodHorse.
Lindsey Parker, the authority's executive director, echoed that the agreement was meant to draw clear lines of responsibility. “This agreement is about more than operating two racing facilities. It's about being clear on who's responsible for what, protecting Maryland's investment, and creating the conditions for these facilities to deliver lasting value...” Parker said, per the same BloodHorse account.
Preakness Schedule Shift Adds Another Wrinkle
The operations agreement lands alongside separate changes to the Preakness Stakes calendar itself. Beginning in 2027, the Preakness will move one week later, running three weeks after the Kentucky Derby instead of two, according to Yahoo Sports. This year's Preakness ran at Laurel Park in May while Pimlico was under construction, and the race is expected to return to the historic Baltimore track in 2027.
