NBC will be the home of the Preakness Stakes for the next seven years, "further cementing its hold on horse racing’s marquee programming," according to Liz Mullen of SPORTSBUSINESS JOURNAL. The extension with the Preakness Stakes "comes as NBC already has long-term deals with the Kentucky Derby, Belmont Stakes and Breeders’ Cup." The new deal "will provide continuity and enable the network to go to market to sell a title sponsorship to the Triple Crown, similar to what Visa had 10 years ago." NBC Sports President of Programming Jon Miller declined to disclose the financial details of the Preakness deal, but said that it "involved an annual rights fee that represented an increase over the prior deal." The agreement comes amid reports and speculation that The Stronach Group, owner of Pimlico Race Course, "could move the race" to Laurel Park in Maryland. But Miller said that what was important to NBC is that the race "continue to be run two weeks after the Kentucky Derby." Mullen reports the deal gives NBC and NBCSN the rights to "broadcast the race, as well as events leading up to the race." It also gives NBC Sports Int'l the rights to "continue to distribute NBC’s coverage of the Preakness Stakes globally." Additionally, NBC Sports Radio "will broadcast the Preakness Stakes through the seven-year term of the deal" (SPORTSBUSINESS JOURNAL, 8/10 issue).
