Report: Legislative Panel to Take a Second Look at Purchase of Laurel

According a report published Thursday by Maryland Matters, the sale of Laurel Park to the Maryland Stadium Authority may not be a done deal. The website is reporting that a legislative panel is delaying the proposed purchase of Laurel by the Maryland Stadium Authority, asking for a cost-benefit review of the $48.5-million deal that was announced suddenly just over two weeks ago.

While the development will not affect the May 16 running of the GI Preakness Stakes at Laurel, it could cause considerable problems for Maryland racing going forward. Once the construction of the new Pimlico has been completed, Laurel will no longer conduct live racing, but it was supposed to become the primary training facility for Maryland-based horses.

According to the report, the policy committee, made up of House and Senate leaders, wants to take a closer look at the long-term plans for Laurel Park “to get a full accounting of the dollars that have gone out and plan for the dollars ahead,” Senate President Bill Ferguson (D-Baltimore City) said Wednesday. “As budgets get tighter, every dollar has to be scrutinized even further. And so I think the legislature has an interest in really understanding the full game plan of where we are headed to make sure that we're getting the best value for public investment.”

The authority announced two weeks ago that it reached a $48.5-million deal to buy the facility from 1/ST Maryland LLC. Officials framed it as a deal that would save the state $50 million over the costs of converting a Carroll County farm into the state's training facility.

Initially, the stadium authority bought the Rooney family's Shamrock Farm for $4.5 million, but it was

determined that the cost of turning the 328-acre property into the training center the state wanted would be excessive and environmentally problematic. Ferguson told Maryland Matters that Shamrock Farm “is not usable.”

Treasurer Dereck Davis (D) told Maryland Matters that ongoing expenses related to a “flagging” horse racing industry may have to come to an end.

“At some point …we have to get it [the horseracing industry] to sink or swim,” he said. “Can it survive? We can't keep pouring massive amounts of dollars into this industry for the third weekend in May. And I know, I know the conversations about year-round, but that's not really working, which is why we're here.”