Kevin Plank wants Maryland to buy his luxury horse farm

Representatives for Kevin Plank have been lobbying top officials in Gov. Wes Moore’s office for months in an effort to persuade the state to buy the businessman’s posh Baltimore County horse farm.

Sagamore Farm, an over 500-acre estate outside of Reisterstown that was once owned by a member of the Vanderbilt family, has been for sale since the start of the year.

“Whether seeking a legacy property for breeding and training or a visionary expansion into new disciplines, Sagamore Farm is a rare offering of exceptional grandeur, equestrian heritage, and truly limitless potential,” the real estate listing reads.

Emails between Plank’s representatives and Moore’s office detail a pitch for turning Sagamore Farm into a state-owned horse training facility. The state, as part of Moore’s $500 million plan to revitalize Pimlico Race Course and the Preakness Stakes, committed last year to building a training facility at Shamrock Farm in Carroll County.

Those plans haven’t stopped Sagamore Ventures, Plank’s private investment firm, from trying to woo Moore’s deputies. Plank is the CEO of Under Armour and Moore was a member of Under Armour’s board from 2020 to 2022.

Brendan Tizard, Sagamore Ventures’ vice president, in early July sent Moore’s office a detailed list of reasons he felt Sagamore Farm would be a better fit for the state.

Among Tizard’s reasons: Sagamore Farm is closer to Pimlico; the land is better suited for horse training; and Sagamore’s facilities are largely turnkey.

“Although Sagamore’s acquisition cost is higher than Shamrock’s, the reduction in development time, permitting, and capital make the project more cost-effective for the state,” says a document Tizard shared with Moore’s office.

The Maryland Stadium Authority purchased Shamrock Farm for $4.5 million last month, the Baltimore Business Journal reported. Sagamore Farm, which has extensive horse training facilities and a luxury estate, is listed for $18.5 million.

Building a training center at Shamrock Farm, which is about 45 minutes from Pimlico, is expected to cost $115 million in state funds and is supposed to be completed by 2027.

While the state’s purchase of the Carroll County farm would theoretically make Plank’s pitch meaningless, it’s unclear whether officials have totally ruled out doing business with the Under Armour CEO.

Ammar Moussa, a spokesperson for Moore, declined comment when asked whether the state was considering purchasing Sagamore Farm. A spokesperson for Sagamore Ventures also did not say whether negotiations were ongoing.

“Unfortunately when the state began its search for an off-site training facility, Sagamore Farm was not on the market,” the spokesperson wrote in an email. “When the property went up for sale, we reached out to the state to make them aware given Sagamore Farm’s history and existing racing infrastructure.

“We are happy to see that the state has acquired another property and look forward to seeing continued investment in horse racing in Maryland.”

Plank purchased Sagamore Farm almost two decades ago, and he told The Wall Street Journal earlier this year that he’s spent $22 million to renovate the property. He declined to share the purchase price. Property records show the taxable value of Plank’s purchase of Sagamore Farm was $6.1 million; a spokesperson for Sagamore Ventures said the Under Armour CEO paid $18 million for the property.

Manny Welsh, Moore’s second-in-command, was scheduled to tour Sagamore Farm on Aug. 19 with Craig Thompson, the chairman of the Maryland Stadium Authority, and Gary McGuigan, who helps oversee the authority’s capital projects team. Two days later, Moore held a ceremonial demolition at Pimlico to push his horse racing investment.

Tizard, after a call with Welsh and Thompson in late July, pushed for the in-person tour, believing it would help sell the state on his plan, according to an email obtained through a public records request.

“We’re glad we had the chance to walk through the idea and appreciate your openness to visiting Sagamore Farm in person,” Tizard wrote on July 28. “We’d love to get a site visit on the books at your convenience — we believe seeing the property firsthand will help bring the opportunity into focus.”

However, the Aug. 19 tour did not take place. Welsh had an unnamed conflict that caused the state to cancel, according to an email.

But it appears the tour got rescheduled for Oct. 15, when Welsh and the stadium authority officials were supposed to come out. Moussa, Moore’s spokesperson, confirmed a tour had taken place as part of “routine due-diligence on any potential site or project.”

Moore, a Democrat, is not unfamiliar with Sagamore Farm. He has held at least one fundraiser at the estate, according to an email Tizard sent Moore’s office. Campaign finance records show Moore held at least one fundraiser at another Plank-affiliated property, the Sagamore Pendry hotel in Fells Point. Plank has donated $6,000 each to Moore’s and Lt. Gov. Aruna Miller’s campaigns since 2021

Plank sold his stake in the hotel earlier this fall, part of an ongoing divestment from various Sagamore properties. He sold his majority stake of the rye whiskey company Sagamore Spirit in 2023.