MSA approves $48.5M agreement to purchase Laurel Park

Gov. Wes Moore on April 20 announced that the Maryland Stadium Authority (MSA) Board of Directors voted to approve a $48.5 million agreement with 1/ST Holdings to purchase 229-acre Laurel Park to redevelop it into a best-in-class horse training facility.

The agreement saves the sate of Maryland more than $50 million and marks a strategic realignment of the state’s plans to transform the Pimlico Race Course into the heart of statewide Thoroughbred racing while securing the future of Maryland’s multi-billion dollar horseracing industry.

“Today, we are taking a historic step to preserve a legacy that has defined our state for more than a century,” Moore said. “By acquiring Laurel Park and establishing it as our statewide training hub, we are delivering a smarter, more cost-effective path to a world-class racing future. This agreement is cost-effective, creates a sustainable home for our horsemen, and ensures that the Preakness Stakes and Maryland racing remain global icons of excellence for generations to come.”

The acquisition is a central component of a strategic pivot that consolidates Maryland’s Thoroughbred training operations at Laurel Park while transitioning Pimlico into a premier ship-in racing venue. The move is projected to save the state an estimated $26.3 million in construction costs by utilizing existing infrastructure for horse stalls rather than building new stables at Pimlico.

The state will also realize $22.5 million in savings by pursuing market-led development alternatives for the Pimlico site. Beyond capital savings, The Maryland Jockey Club expects to reduce annual operating expenses by $2.5 million through the consolidation of overnight racing staff at the new training center.

“The MSA board’s action today is significant and truly transformational for a number of reasons,” MSA Chairman Craig A. Thompson said. “The citizens of Maryland and beyond should be proud of the teamwork, diligence and commitment to financial prudence that led to this important vote.”

“This is a defining moment for Maryland racing. Bringing Laurel Park under a nonprofit structure ensures that the focus remains where it belongs—on the long-term health of the industry and the people who power it every day,” said Maryland Thoroughbred Horsemen’s Association (MTHA) President Katharine M. Voss. “It creates an opportunity to align our resources, strengthen our community, and build a more sustainable future for everyone involved in this sport. We look forward to working together with the state of Maryland to move Maryland racing forward."

“For those of us on the backstretch, Laurel Park isn’t just a place we race—it’s where we live, work, and dedicate our lives to our horses,” MTHA Vice President Tim Keefe said. “This transition brings a sense of stability that means everything to trainers, owners, and the entire backside community. It gives us confidence that the focus will stay on supporting the people and horses that make this sport possible, and that Maryland racing will continue to have a strong foundation moving forward.”​

The MSA and Carroll County government will be engaging in collaborative conversations regarding the future of Shamrock Farms, which was preliminarily identified as the future site of a horse training facility.

The 151st Preakness Stakes will run at Laurel Park May 16, 2026, before it returns to a reimagined and modernized Pimlico Race in 2027. Once the redevelopment is complete, Pimlico will serve as the permanent home of Maryland horse racing, hosting approximately 120 racing days annually. Laurel Park will remain a year-round cornerstone of the industry, providing up to 1,200 stalls renovated by the MSA and state-of-the-art dirt and turf surfaces.

“Laurel Park has long been the heartbeat of Maryland’s Thoroughbred racing community, serving as the place where horsemen, fans, and industry professionals come together every day to sustain and grow this sport,” MTHA board member Graham Motion said. “Ensuring its future through this transition is critically important—not just for today, but for the next generation of Maryland racing.

"Our horsemen are grateful to Gov. Wes Moore and the General Assembly for their leadership and commitment to preserving this vital institution. This moment represents a meaningful step forward in strengthening the foundation of our industry and keeping Maryland racing moving in the right direction.”

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