Maryland Stadium Authority Board Approves Facilities Operations Agreement with The Maryland Jockey Club
Maryland Stadium Authority Board Approves Facilities Operations Agreement with The Maryland Jockey Club
Agreement establishes operational responsibilities, financial oversight, and a framework for the long-term success of Maryland's thoroughbred racing facilities
BALTIMORE, MD — October 28, 2026 — The Maryland Stadium Authority (MSA) Board of Directors today approved a Facilities Operations Agreement with The Maryland Jockey Club, Inc. (TMJC), establishing the framework for the operation, management, maintenance, and security of Pimlico Race Course and Laurel Park.
The agreement represents an important milestone in Maryland's commitment to the future of thoroughbred racing, establishing clear responsibilities between MSA, as owner of the facilities, and TMJC, as the exclusive operator. It also establishes requirements for financial reporting, auditing, maintenance planning, security, and coordination of capital investments to protect the State's long-term interests.
“We're not just rebuilding Pimlico. We're building the foundation for Maryland thoroughbred racing's next chapter. The Board's responsibility is to make sure the public investment we're making today continues to deliver value for decades to come,” said Craig Thompson, Chair of the Maryland Stadium Authority Board of Directors.
Under the agreement, MSA retains its responsibilities as owner, including planning and delivering authorized capital improvements, while TMJC assumes responsibility for day-to-day operations, maintenance, and security. The agreement also establishes financial oversight and reporting requirements, procedures for capital planning, and measures to manage operational and financial risk.
“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 for the industry, surrounding communities and taxpayers,” said Lindsey Parker, Executive Director of the Maryland Stadium Authority.
The Maryland Jockey Club will oversee racing operations and the management of both facilities, including supporting the transition of primary racing operations to the redeveloped Pimlico Race Course.
“Today marks an important step forward for Maryland thoroughbred racing,” said Bill Knauf, President and General Manager of The Maryland Jockey Club. “We are committed to delivering first-class racing and training facilities, providing an outstanding experience for horsemen and fans, and building a sustainable future for this industry. Our partnership with the Maryland Stadium Authority is essential to realizing that vision, and we look forward to the work ahead.”
Together, MSA and TMJC will continue advancing the redevelopment of Pimlico, coordinating the transition of racing operations, and preparing for the long-term operation of Maryland's thoroughbred racing and training facilities.
The shared objective is to deliver safe equine facilities, strengthen Maryland’s racing industry, support surrounding communities, and maximize the public benefit of the State's investment.
About the Maryland Stadium Authority:
The Maryland Stadium Authority was established by the Maryland General Assembly in 1986 to build, manage, and maintain quality facilities to retain Major League Baseball and return the National Football League to Maryland. MSA's mission has expanded significantly over the decades to include school construction, convention facilities, racing, economic development, and sports tourism. To date, MSA has completed more than $7 billion in projects across the state. MSA manages approximately $2 billion in total assets, with $762 million in active construction funding supporting projects in communities across Maryland. For more information, visit mdstad.com
About The Maryland Jockey Club:
The Maryland Jockey Club, founded in 1743, is the oldest sporting association in the United States and conducts live thoroughbred racing at Laurel Park and Pimlico Race Course. For more information, visit laurelpark.com
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