A deal between state horse racing leaders, track owners, breeders and state officials was hammered out on Wednesday that will keep the Preakness horse race in Baltimore.

The Preakness, the second jewel in American horse racing’s Triple Crown, is staged every year in mid-May, two weeks after the series opens with the Kentucky Derby and three weeks before the final showdown at the Belmont Stakes.

The race had been threatened and was a likely target to be moved after proposals to drastically reduce the Maryland horse racing season.

“Today’s agreement not only keeps Maryland’s treasured Preakness Stakes where it belongs, but it helps protect the thousands of jobs that depend on our rich history of horse racing,” Maryland governor Martin O’Malley said.

The state racing commission had rejected a proposal by the owners of Pimlico Race Course, site of the Preakness, but Joseph Bryce, chief legislative officer for O’Malley, worked out a deal for a 146-day season.

The deal redirects up to four million dollars of state slot machine income to pay for operating costs rather than improvements.

Horsemen would contribute 1.7 million dollars.