2025 Preakness Stakes Trainers: Handicapping and Analysis

by Spencer Toth - 5/15/2025

The Preakness Stakes offers a chance for horses, trainers, and jockeys to etch their names into the history books just two weeks after the world-famous Kentucky Derby. The horse and jockey will rightfully get plenty of credit, but the behind-the-scenes work from the trainers cannot be understated. It is no coincidence that the same trainers end up on top of the Preakness Stakes year after year. A disciplined, coordinated training method is crucial to success at the Preakness Stakes, and all nine of these men deserve plenty of credit for getting to this stage already. However, only one will emerge victorious this weekend. Here are the nine trainers represented at the 2025 edition of the Preakness Stakes.

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Post Position	Horse	Trainer
1	Goal Oriented	Bob Baffert
2	Journalism	Michael McCarthy
3	American Promise	D. Wayne Lukas
4	Heart of Honor	Jamie Osborne
5	Pay Billy	Michael Gorham
6	River Thames	Todd Pletcher
7	Sandman	Mark Casse
8	Clever Again	Steve Asmussen
9	Gosger	Brendan Walsh

Bob Baffert, Goal Oriented (6-1)

Bob Baffert is one of, if not the greatest, horse trainer of all time, and already has two Triple Crowns to his name. He has won the Kentucky Derby six times, including three of the last ten races. In the Preakness Stakes, his record is even better with eight wins, including a 2023 victory with National Treasure. The list of accomplishments for Baffert could fill this whole page, but he is not without his controversies. He has been caught using illegal steroids on his horses numerous times and is coming off a three-year ban. Baffert would love nothing more than to pad his resume even further, and has a real chance with Goal Oriented at the Preakness Stakes.

Michael McCarthy, Journalism (8-5)

There is no trainer with more pressure to deliver than Michael McCarthy. Journalism fell just short at the Kentucky Derby and is the odds-on favorite to win despite the quick turnaround. His only major racing win was the 2021 Preakness Stakes, but his 19% win rate in 2025 is the best of his career. McCarthy feels as though he has a real shot with Journalism at the Preakness Stakes, and his preparation between the Kentucky Derby and Saturday night will be the difference between winning and losing.

D. Wayne Lukas, American Promise (15-1)

D.Wayne Lukas is the oldest trainer at the Preakness Stakes, clocking in at 89 years old. He is already in the Hall of Fame and has seven Preakness Stakes victories spanning from 1980 to 2024. His longevity is second-to-none, and he will be looking to replicate Seize the Grey’s victory last year. His $300 million in earnings is nothing to scoff at, and he would love nothing more than to cap off his career with another Preakness Stakes victory before he turns 90.

Jamie Osborne, Heart of Honor (12-1)

Jamie Osborne made the surprising decision to hire his daughter as Heart of Honor's jockey, but you cannot argue she isn’t qualified. Osborne is still relatively new to the training game, but he had an extensive career as a jockey himself. He is a true competitor at heart and will not let his inexperience deter him from hunting for gold at the Preakness Stakes.

Michael Gorham, Pay Bill (20-1)

Michael Gorham has been in the horse training business for decades, but he has been unable to truly solidify himself among the greats. His $35 million in earnings spanning 41 years is still respectable, but is far less than most trainers with his experience. However, 2025 may be the year he finally turns a corner, as his 24% win rate is by far the highest of his lengthy career. He has yet to win the Preakness Stakes or any of the Triple Crown races, and is the longest underdog with Pay Bill this year.

Todd Pletcher, River Thames (9-2)

Todd Pletcher is still missing a Preakness Stakes victory despite winning six other American Classic races. A Triple Crown over his career has a chance to be completed with River Thames this year. Pletcher is one of the winningest trainers in history with 5,847 wins and counting heading into this race. The Preakness Stakes has always eluded him, and there will be no trainer more motivated to win at the 2025 edition of this historic race.

Mark Casse, Sandman (4-1)

Mark Casee had a very successful 2019, winning both the Preakness Stakes and Belmont Stakes. He has been unable to follow up on that high point of his career, but he has a real chance with Sandman this year. Casse is quite the underdog story after he spent the first 23 years of his training career without a million dollar season. His success has exploded since the turn of the century, as Casse is now amongst the all-time greats. Casse still needs a few more Triple Crown races added to his trophy cabinet, and is the second most likely trainer to win according to the morning odds list.

Steve Asmussen, Clever Again (5-1)

Steve Asmussen has accumulated $470 million in earnings over his 40-year training career, and the Preakness Stakes has been one of his best races. He lacks the major wins some of the other trainers have, but Asmussen has more than 10,000 career victories. He had dreams of being a horse jockey after his parents were 5 '4 and 5' 2, but now towers at more than 6 feet tall, which ended his jockey career. Asmussen is a professional trainer like few others, and has a real chance to win with Clever Again this year.

Brendan Walsh, Glosger (20-1)

Brendan Walsh is still relatively new to the training game after getting his license in 2011, but that hasn’t stopped him from instantly competing with the best of all time. Walsh has been training horses since he was a child, and has always dreamed of getting involved in the horse racing world. He lacks the big wins other trainers have on their resumes, but Glosger is an underdog we will have to keep an eye on at the Preakness Stakes.

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Start:	May 15, 2025 @ 10:10 PM
Expert:	Vernon Croy
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2025 Preakness Stakes Trainers: Handicapping and Analysis

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