Pimlico Likely Needs ‘Complete Rebuild’ to Preserve Preakness, Owner Says

Preserving the 147-year-old Pimlico Race Course as the home of the Preakness likely would require rebuilding the track at a cost of $300 million to $500 million, according to its owner — which has no plans to foot the bill.

Simply renovating the faded track wouldn’t elevate it to the standards required for the second leg of horse racing’s Triple Crown, said Tim Ritvo, chief operating officer of the racing division of the Stronach Group, owner of Pimlico and Laurel Park.

“What we’d want to see is a complete rebuild,” Ritvo said in an interview Monday.

Questions have long loomed about the future of Pimlico and who might pay to renovate or rebuild the storied track, which borders on the rough Park Heights neighborhood. The Maryland Stadium Authority has estimated that renovating the track would cost $250 million to $320 million.


READ MORE HERE: http://www.baltimoresun.com/business/bs-bz-pimlico-future-20170515-story.html