Report: Stadium Authority Calls for Rebuilt Pimlico

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Photo: Chad B. Harmon
Justify wins the 2018 Preakness at Pimlico

The Maryland Stadium Authority's completed study about the future of Pimlico Race Course, expected to be released Dec. 13,  "calls for" the demolishing and rebuilding of the Baltimore racetrack at a price tag of $424 million, according to a report published by the Baltimore Sun.

According to the Sun's Luke Broadwater, who indicated the newspaper got a "summary" of the MSA report, the changes proposed for Pimlico would call for "nonracing uses for the site," including "a grocery store, other shops, a hotel, and townhouses."

As for the demolition of the racetrack, according to the Sun, it would include "all existing structures on the site." The rebuilt track would feature a dirt course of 15/16ths of a mile (Pimlico's main track is currently one mile), and the turf course would stay at seven-eighths.

The Sun's reporting indicated of the $424 million, $252.2 million would go to a "multiuse clubhouse," $120.5 million would go to "infrastructure improvements," $29.6 million would be put into the "infield and track," and demolition would cost $21.5 million.

The first half of the MSA report on Pimlico, released in 2017, estimated the cost of renovating the track at between $250 million and $322 million.

VESPE: A $300 Million Question at Pimlico Race Course

On May 19, the day of the Preakness Stakes (G1), Tim Ritvo—the chief operating officer of The Stronach Group (which owns Maryland Thoroughbred tracks Pimlico and Laurel Park)—said the only thing that would keep Pimlico in business in upcoming years is if the second leg of the Triple Crown remained there, but he emphasized that The Stronach Group would not put any money into renovating Pimlico. He said Laurel could be ready to host the Preakness as soon as 2020.

"We've made it pretty clear that we're not going to put any funds into it," Ritvo said in May. "One, we don't have any funds to put into it. We're a privately owned company that has no debt, and we're in good shape. But at the same time, we're not going to pour millions and millions of dollars—hundreds of millions of dollars—into the facility here and continue to renovate Laurel."

BALAN: Preakness Could Become Elite Event at Laurel

During that same discussion, Ritvo said he'd rather have the Preakness at Laurel than Pimlico.

"That's a hard question to answer," the executive said. "From what I know now, yes, (I'd like it to be at Laurel). … But if somebody was to spend ($300-$500) million on a facility here, I'd probably start to like this place, too."

Ritvo, Maryland Jockey Club president Sal Sinatra, and spokesmen at The Stronach Group did not respond to requests for comment by BloodHorse Wednesday.

The Sun's report Wednesday did not indicate where the funding would come from for the renovation of Pimlico but said the "study recommends city officials, state officials, the Maryland Jockey Club, and The Stronach Group enter into formal negotiations about the next steps."