2026 Preakness Stakes purse: How much prize money the winning owner and trainer will earn

The purse of the Preakness (G1) has come a long way since its inaugural running in 1873, when the winning horse earned $1,850 and the runner-up $200.

In 2026, the second leg of the Triple Crown is worth $2 million, a value it’s carried since 2024.

The Preakness purse is divided among many participants, including the owners and trainers of the highest-finishing horses. If you’ve ever wondered how much prize money the owner and trainer of the Preakness winner earn, we’ll break it down for you.

How the 2026 Preakness Stakes purse is paid out

Although 14 horses have entered the 2026 Preakness taking place this Saturday at Laurel Park, only the top five finishers will earn purse money. The breakdown is as follows:

1st: $1.2 million
2nd: $400,000 
3rd: $220,000
4th: $120,000
5th: $60,000

How much prize money will the winning Preakness Stakes owner earn in 2026?

Typically, the owner of a Preakness winner receives 80% of the winning purse ($960,000 in 2026), leaving 20% to be divided among the winning trainer and jockey.

But the $960,000 isn’t pure profit. It costs $15,000 to enter and $15,000 to start a horse in the Preakness. Coupling these expenses with the Triple Crown nomination fee (which costs $600 at the earliest deadline), the winning owner comes out with $929,400.

That’s assuming the Preakness winner is owned by a single person or entity. Many horses are owned by partnerships involving two or more people, stables, groups, etc. If a horse owned by a partnership wins the Preakness, the purse must be divided among all parties in accordance with the specifics of the partnership.

As an example, 2025 Preakness winner Journalism raced for an extensive partnership comprised of Eclipse Thoroughbred Partners, Bridlewood Farm, Don Alberto Stable, Robert V. LaPenta, Elayne Stables 5, Mrs. John Magnier, Michael B. Tabor, and Derrick Smith.

The winning owner also receives a replica of the Woodlawn Vase, the 166-year-old, 30-pound sterling silver Preakness trophy considered one of the most valuable trophies in all of sports.

How much prize money will the winning Preakness Stakes trainer earn in 2026?

Usually, the trainer of the Preakness winner receives 10% of the winning purse. In 2026, this totals $120,000 before taxes.