Preakness Stakes Secures Broadcast Future with NBC Amidst Industry Shifts
The Preakness Stakes, a cornerstone of American horse racing, has finalized an extension of its broadcasting rights with NBC Sports, a move that secures its televised future. This agreement follows intense negotiations, where NBC triumphed over bids from prominent media entities such as Fox Sports, Netflix, and Amazon. While the duration of this new contract has not been publicly disclosed, it continues a long-standing partnership, with NBC having broadcast the Preakness annually since 2001. This announcement comes at a pivotal moment for the Maryland Jockey Club, which is working to strategically position the Preakness within the evolving landscape of thoroughbred racing.
This renewed partnership with NBC comes amidst broader transformations in the horse racing world, most notably the formation of the Thoroughbred Racing Championship. This new series, unveiled by Churchill Downs Inc. and the New York Racing Association, aims to spotlight top three-year-old horses through a sequence of six races, offering an impressive $5 million bonus. This new alliance, however, maintains the traditional scheduling of the Kentucky Derby and Belmont Stakes, leaving the Preakness to consider its optimal placement. The Maryland Jockey Club is facing increasing pressure to potentially adjust the Preakness's traditional mid-May slot, especially given instances where Kentucky Derby winners have bypassed the Preakness in recent years, impacting viewership and participation. Despite these challenges, the Preakness continues to draw a substantial audience, evidenced by its 7.1 million viewers in the current year, solidifying its position as the second most-watched horse race in the United States.
Looking ahead to 2027, the Preakness Stakes is scheduled to take place at a newly redeveloped Pimlico Race Course. This extensive reconstruction project, costing over $400 million and funded by Maryland Stadium Authority bonds, is set to revitalize the historic venue. However, the grandstand's completion is not anticipated by May 2027, necessitating temporary seating and hospitality arrangements for the event. The state of Maryland's proactive measure in retaining the intellectual property rights for the Preakness underscores its commitment to the race's future. The ongoing discussions about the race's specific date and its integration within the broader racing calendar reflect a dynamic period for this esteemed event. The goal is to ensure the Preakness not only preserves its legacy but also thrives in an increasingly competitive and restructured environment, fostering continued excitement and engagement within the sport of kings.