Churchill Downs Drops $85 Million to Buy Preakness Stakes IP Rights

Churchill Downs Incorporated, the Louisville, Ky.-based company that owns the Kentucky Derby, has entered into a definitive agreement to purchase the intellectual property of the Preakness Stakes for $85 million. The deal, announced Tuesday, transfers all trademarks and associated rights of the second leg of horse racing’s Triple Crown from the Stronach Group (doing business […]