I didn't go to business school, but I know a Basics of Business lecture when I hear one. And TK Kuegler, entrepreneur, venture capitalist, Thoroughbred owner/breeder and -- yes -- former college professor, was lecturing about the future of the Maryland Million during a conversation in March.

President of its board of directors, Kuegler wants to breathe life into the pioneering state-sired racing program which began in 1986 thanks to the efforts of Marylander and ABC sportscaster Jim McKay but has lost some of its luster in the 40 years since. Kuegler and his board want to improve participation, prize money, attention, reputation, wagering handle and pretty much anything else you can think of.

The board, the Maryland Horse Breeders Association staff and others got to work on some of that last year with sponsors for every race on the October card at Laurel Park, a pre-Million event with state business and community leaders at Oriole Park in Baltimore, and efforts to attract additional wagering on the day.

The real work started this year, first via "North Star" goals crafted and refined by four new standing committees focused on racing and competition, community engagement, entertainment and events and revenue generation. The goals sound like they come straight out of business school; they also get specific:

Increase handle on Maryland Million races by 15 percent year-over-year and increase the field size by 15 percent.

Hold a weeklong series of events that highlight the Maryland Thoroughbred industry. Events must be cash-flow neutral to the Maryland Million and benefit chosen charities.

Establish at least two other benefits to owners/breeders of Maryland Million-eligible horses that begin to enhance the allure of developing those horses.

Increase Maryland Million sponsorship revenue to more than $300,000.

Allow the Maryland Million budget to stay cash-flow neutral, yet deliver enhanced programs and operational impact.

You can put a checkmark next to that third one as two benefits launched in March -- a 5-percent bonus for eligible maiden winners in the state and two starter allowance races with $10,000 purse premiums for eligible horses March 22. The early steps won't produce an immediate resurgence, but they add tangible benefits to Maryland Million eligibility.

More importantly, they are foundational blocks on which to build future benefits and produce future results -- a must for any forward-looking business leader.

"Obviously, we have to increase the number of mares going to Maryland sires," Kuegler said. "That is the No. 1 concern, which is why you do all these things now. If it convinces one person to send a mare to a Maryland sire, then in many ways we did our job. That is THE number one job we have. And the odds are, if you're going to a Maryland sire you're staying in the state and you're going to be a Maryland-bred too. That's a double win. If you change the tide on that, you create multipliers and everything gets better. You get bigger fields at Laurel and Pimlico, the handle goes up, the purses grow, you create more demand for horses, all of it."

Kuegler said the maiden incentive would stay in place for at least three years, with a first-year price tag of $80,000. More success will raise that price tag, but will also mean efforts are paying off. If the starter races succeed, more will be added for May with the possibility of a Maryland Million preview day in September.

In another small step, Maryland Million Day 2026 shifted two weeks later to line up with the state's fall yearling sale. Fasig-Tipton Midlantic made the first move, to Oct. 27 from Sept. 30 last year.

Maryland Million followed, moving to Oct. 24 from Oct. 11. Thoroughbred auctions tied to major racing days frequently produce solid results -- see Fasig-Tipton's yearling sale in the heart of the Saratoga racing season, the May 2-year-old sale during Preakness time in Maryland and the November sales in Kentucky after the Breeders' Cup. Last year, Big Cuddle won the Maryland Million Juvenile two weeks after his half-brother sold for $13,000 at Timonium. This year, the race will be three days before the sale and potential buyers will know all about the results.

None of these ideas will make anyone forget the starting gate or the photo-finish camera, but they represent early steps toward the future of Maryland racing under new management at a new Pimlico Race Course. The efforts also answer some critics and create optimism, while at the same time recognizing the work done just to keep the Maryland Million running for 40-plus years. Kuegler's excited. He hopes you are too.

"We've started putting some benefits together on a long journey to get people to understand that there's value to have a Maryland-sired horse," said Kuegler. "That's the mission, when you get to the core, of Maryland Million. This is an attempt at trying something new, and it doesn't break anything. The one thing I've added is add a little bit of structure and a little bit of energy. It's easy to be negative, let's go be positive."