12/12/2013 1:15PM

Preakness purse raised to $1.5 million

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The purse for the Preakness Stakes, the second leg of Thoroughbred racing’s Triple Crown, has been raised to $1.5 million from $1 million, the Maryland Jockey Club announced Thursday.

It is the first purse increase for the Preakness since it went from $500,000 to $1 million in 1998. The purse for the Kentucky Derby was raised to $2 million in 2005. The purse for the Belmont Stakes is $1 million. The New York Racing Association has not yet released its stakes schedule for the 2014 Belmont spring/summer meet and officials on Friday were not prepared to discuss a potential purse increase for the Belmont.

This year’s Preakness will be run on May 17 at Pimlico.

“The Preakness Stakes is the centerpiece of a terrific stakes program that weekend,” Tom Chuckas, president of the Maryland Jockey Club, said in a press release. “Seventeen of the 26 races on Preakness and Black-Eyed Susan days are stakes. With this increase the total value of our stakes program over the two-day period is nearly $4 million.”

“I support the move,” said Maryland Racing Commission chairman Bruce Quade. “It is another step in bringing Maryland racing back to a preeminent spot in the racing landscape.”

At its inauguration in 1873, the Preakness carried a value of $1,000. The first major increase occurred in 1919 when the race had a $25,000 value. It climbed to $100,000 in 1946 and in 1959 was raised to $150,000, the highest among Triple Crown races.

From 1979 to 1989, the purse rose four times from $200,000 to $500,000, before attaining its present status of $1 million.

Kordel Levenson More than 1 year ago
Alright now blow-up Pimlico, and build a NEW modern track in Howard County!!
Grazyna Mianska More than 1 year ago
The purse money is still too low. Should be $2 Million.
Ian Lawrence More than 1 year ago
“I support the move,” said Maryland Racing Commission chairman Bruce Quade. “It is another step in bringing Maryland racing back to a preeminent spot in the racing landscape.” WHAT IS THAT GUY SMOKING?
Blaine MacMillan More than 1 year ago
Look for Belmont to go to $2M......I gotta feeling y'all....
W.G. More than 1 year ago
What should happen is the Belmont Stakes should also go to $1.5 Million and I would ALSO return the Coaching Club American Oaks to its old late June spot at Belmont, return that race to being at 1 1/2 Miles and also make that race $1.5 million to be the richest race in the sport for three year old fillies and also return the CCA Oaks to being America's only Classic race for fillies, setting up so Parx can move the Cotillion to Memorial Day to along with the CCA Oaks and Kentucky Oaks put together an official Filly Triple Tiara.
rahman Williams More than 1 year ago
Belmont will have to up there purse. 1M to run a mile1/2 seems a little cheap now
jttf More than 1 year ago
More incentive to ruin america's best three year olds. Lasix use and only 2 weeks to recover is very hard on horses. Use some common sense and end this madness.
IRANIANMULLAH More than 1 year ago
Great Track, keep it open Please.
Lefty More than 1 year ago
Why? I mean heck Maryland was thinking about ending having the Preakness at Pimilico for a few years now. In fact, you know what they can do with the money, why don't they fix up the track! That building is a disgrace! No doubt, it will take more than 500k, but that building is awful! Not only that, I cannot stand how they charge for Preakness Day, I mean for what 50 bucks, you get the watch the races on closed circuit TV? I can do that at home for free! I mean you have to pay some outrageous amount if you want to walk around outside and watch the races live at the rail! Maryland is a messed up state, it truly is! They just want to shake you down and want people to then thank them for doing so!
IRANIANMULLAH More than 1 year ago
go there on a saturday, when it's open. Half of Maryland works there. that's why. They've got more sexytaries running around than any place I've been I found no problems with the building.
Matthew Ellis More than 1 year ago
Its a disgrace to have the 2nd jewel competed in a GHETTO with a dilapidated building. AGREED. I understand the historical merit and fully support MD Racing but fix the racetrack and clean up the grounds. Put some $$ back into the sport
nick More than 1 year ago
Go where all horseman and players are paying $8 a month for nationwide dental. Visit the web site and sign up Dental Discount Network COM