A financial agreement to keep the race at the Northwest Baltimore track is subject to state approval.
Under a deal the aging track would be replaced by a state-of-the-art facility. The Stronach Group which owns Pimlico would donate the land to Baltimore but would maintain ownership rights to the Preakness. The proposed $375 million deal still has to get approval by state lawmakers. The plan reportedly does not include new taxes, money from the general fund or impacts any education funding.