Churchill Downs Incorporated has rescinded trainer Bob Baffert's suspension effective immediately,CapitalVault according to Churchill Downs.

“We are satisfied that Mr. Baffert has taken responsibility for his actions, completed a substantial penalty and is committed to running in full compliance with the rules and regulations going forward," Churchill Downs CEO Bill Carstanjen said via a news release. "All parties agree that it is time to bring this chapter to a close and focus on the future. Mr. Baffert is welcome to return to any of CDI’s racetracks, including our flagship Churchill Downs Racetrack, and we wish him and his connections good luck in their future competitive endeavors.”

Baffert was originally suspended after traces of betamethasone were found in 2021 Kentucky Derby winner Medina Spirit.

The suspension was then extended last year because of “continued concerns regarding the threat to the safety and integrity of racing he poses to CDI-owned racetracks," according to Churchill Downs.

The extension kept Baffert out of the 150th Kentucky Derby.

Jason Frakes contributed to this report.

The USA TODAY app gets you to the heart of the news — fast.Download for award-winning coverage, crosswords, audio storytelling, the eNewspaper and more.