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Yum! Has Begun Discussions
To Continue Derby Sponsorship |
Yum! Brands, which signed on as a presenting sponsor of the Kentucky Derby in '06, "hopes to continue that sponsorship after its five-year agreement expired with this year's Derby," according to Ed DeRosa of the THOROUGHBRED TIMES. Yum Senior VP & Chief Public Affairs Officer Jonathan Blum last Thursday said that his company and Churchill Downs have "begun discussions," and Churchill Downs President Kevin Flanery last month said that discussions "already have begun regarding continuing the sponsorship in '11 and beyond." Blum: "I believe you'd find mutual interest to re-up on both ends; we intend to re-up. We enjoy the sponsorship and enjoy our association with the Kentucky Derby. Hopefully, Churchill Downs feels the same way." DeRosa noted the presenting sponsorship, the "first in the Derby's history, included signage throughout Churchill Downs and seven 30-second commercials during NBC's broadcast of the race." Since announcing the Derby sponsorship in '06, the Yum! stock "increased in value by 68.9% through April 30, the last day of trading before this year's Derby." The Kentucky Derby is the "only major athletic event Yum! sponsors," though the company also "has the naming rights to Louisville's new downtown arena," the KFC Yum! Center (THOROUGHBREDTIMES.com, 5/24).
