MRC Approves Transfer Of Racing License

The Maryland Racing Commission at a special meeting in late December approved the transfer of the Thoroughbred racing license from the Maryland Thoroughbred Racetrack Operating Authority to The Maryland Jockey Club, the new not-for-profit entity that will operate Laurel Park effective Jan. 1, 2025.

The license held by 1/ST Racing (The Stronach Group) was transferred to the MTROA earlier this year along with Pimlico, which eventually will be demolished and rebuilt.

The license transfer to the TMJC was contingent upon receipt of $10 million from the state budget to cover a $6 million operating loss projected for 2025. TMJC will operate Laurel under lease from 1/ST Racing until the new Pimlico is open for live racing.

During the Dec. 17 MTROA meeting, officials said all licenses have been transferred from 1/ST Racing to TMJC to ensure a smooth transition when Laurel reopens for live racing Jan. 17. MTROA Chairman Greg Cross said all employees have signed new employment agreements, and that “as of Jan. 1, we’ll be ready to go.”

Bill Knauf officially took over as TMJC President Jan. 1. It was noted at the meeting that members of the new TMCJ Board of Directors have not be named with the exception of Cross, and that it could be months before the members are named. Cross said not having the board in place will have no impact on day-to-day operations at Laurel.

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