LOUISVILLE, Ky. – The Kentucky Derby will have a sponsor for the first time, striking a five-year deal with a fast-food restaurant company that owns KFC, Taco Bell and Pizza Hut.
Yum! Brands Inc. (YUM), based in Louisville, becomes the first named sponsor of the Derby at Churchill Downs, and the race will be referred to as the Kentucky Derby, presented by Yum! Brands, it was announced Wednesday.
The Yum logo will appear under the famed twin spires for the Derby on May 6, and will also be shown on a sign above the starting gate, on the jackets of the pony riders who escort the horses during the post parade, on television billboards and elsewhere around the track.
Yum Brands! also the parent of Long John Silver's and A&W restaurants, will receive six 30-second television ads on NBC's Derby broadcast and two 30-second commercials on ESPN and ESPN2 during their coverage.
"Through this sponsorship, potential investors will know of Yum! Brands and begin to associate the company with our leading restaurant brands," Yum chairman and CEO David Novak said in a statement.
Terms of the deal were not disclosed.
"As an outstanding corporate citizen in our hometown, Yum! Brands understands the importance of the Derby's history and tradition to the residents of our city and region, as well as to racing fans around the world," Churchill Downs president Tom Meeker said in the statement.
The Derby, the first leg of racing's Triple Crown, carries a $2 million purse. The deal will not affect the purse, but a portion of the sponsorship's revenues will go to race purses during the track's spring and fall racing meets.
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