BALTIMORE (WJZ)— It’s a staple in the Baltimore sports world. Only holding one major event a year whiling drawing in millions, the Preakness Stakes is a big part of Charm City’s history.

A new study aims to transform Baltimore’s Pimlico Race Course into a state-of-the-art facility.

It’s a day all about the horses and the races, but the Preakness Stakes is also a time for Baltimore to shine.

“It’s an event that lets the rest of the country see how great of a city this is,” said Tim Richardson. “I personally think it’s the most important race of the Triple Crown, because you can’t have a Triple Crown winner, if you don’t win the second race.”

For 141 years, the races have garnered the attention of the world to Pimlico and Baltimore.

An independent study is looking to keep it that way as rumbles of another location surface as the facility ages.

The $280,000 consulting job paid for by the Maryland Jockey Club, Baltimore Development Corp. and the Maryland Stadium Authority will look the facility to see what needs to be done to get it to a first class racing facility, along with the value the races have to Baltimore.

“It creates economic impact, and if you’re a politician, business man, or resident of Baltimore, why wouldn’t you want to keep it in Baltimore?” says Michael Frenz, with the Maryland Stadium Authority.

“To lose something that is personified Baltimore, in terms of all these years, and having that horse race there, to no longer have it there, to me, would be ripping a piece of the culture away,” said Richardson.

Consultants will arrive Thursday and they will attend the Black-Eyed Susan and Preakness to see how the facility is used during its biggest event of the year.

There will be a high level estimate of the cost, and another estimate of the cost of designing a new facility.

The findings from the study are expected to be released by next spring.

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