The $424M price tag was contained in a Maryland Stadium Authority study released last DecemberGETTY IMAGES
Pimlico Race Course advocates are "taking issue with what they call the 'fallacy'" that it would cost $424M to "rebuild the 149-year-old track," according to Jeff Barker of the BALTIMORE SUN. Former Maryland Jockey Club CEO Joseph De Francis said that a "functional Pimlico could be constructed" for less than $200M with "temporary luxury seating and hospitality structures akin to those used at major golf tournaments." Barker notes the $424M price tag was "contained in a Maryland Stadium Authority study released last December about the future" of the track. Former Jockey Club VP/Facilities Martin Azola said of the price, "If $424 million were $250 million, I think it would change the balance of discussion quite substantially. My hope is that the parties can find a way to keep Preakness at Pimlico while minimizing operational costs. Win-win." De Francis said that his proposal "wouldn't require Pimlico to be designed for year-round racing," which would remain Laurel Park's purpose. He said, "You can design Pimlico to specifically house a two-week meet that culminates with the Preakness and is designed for a crowd of 150,000." De Francis added that with NASCAR-style steel bleacher seating, temporary structures and other amenities, "you can do all that without making a capital investment of hundreds of millions of dollars in concrete and steel" (BALTIMORESUN.com, 5/10).
