finance
Churchill Downs to Buy Preakness and Black-Eyed Susan IP Rights for $85 Million
Churchill Downs announced it will acquire the intellectual property rights for the Preakness and Black-Eyed Susan for $85 million. The deal includes licensing those rights back to Maryland after 2026. The company, listed as CHDN on NASDAQ, is the buyer in the transaction.
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Com reported. The agreement includes licensing those intellectual property rights back to Maryland following the year 2026. The licensing arrangement is set to begin after 2026 and allows Maryland to use the intellectual property rights.
Churchill Downs, listed as CHDN on NASDAQ, is the buyer in the transaction. The deal focuses on intellectual property related to Preakness and Black-Eyed Susan. No timeline for completion of the purchase was specified, and no additional details were provided on the seller or further terms.
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