Preakness Stakes raises purse to $1.5M

12/13/2013 5:30 AM

BALTIMORE (AP) - The Preakness Stakes will be worth $1.5 million next year, the first purse increase for the second leg of the Triple Crown since 1998.

The Maryland Jockey Club on Dec. 12 announced the $500,000 increase for the May 17 race at Pimlico. The purse was last boosted 15 years ago to $1 million. The Preakness was worth $1,000 when first run in 1873.

The Kentucky Derby has a purse of $2 million. The Belmont Stakes, the last leg of the Triple Crown, is worth $1 million.

Maryland Racing Commission chairman Bruce Quade said the increase is another step in bolstering horse racing in the state.


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