Woodford Reserve will "take over as presenting sponsor" of the Kentucky Derby beginning in '18 after Churchill Downs Inc. agreed to a "five-year deal" with the Brown-Forman brand of bourbon, according to Frank Angst of BLOODHORSE. Yum Brands had served in the presenting sponsor role from '06-17. Financial terms of the new deal were not released, but both CDI and Brown-Forman are "located in Louisville." The business relationship between the two has been ongoing for "more than three decades and has included several partnerships." Woodford Reserve will maintain its title as the official bourbon of the Kentucky Derby, which it has had since '99, and it also will become the "presenting sponsor of the Road to the Kentucky Derby, the points series of 35 designated prep races that determines the participants in the maximum field of 20 horses that will compete in each year's race" (BLOODHORSE.com, 10/25). In Lexington, Janet Patton noted Old Forester, another Brown-Forman brand, will "return as the official mint julep of the Kentucky Derby," as it has been since '15. CDI and Yum in '14 had announced a "five-year extension of its presenting sponsorship" which was scheduled to run through '20 (KENTUCKY.com, 10/25). In Louisville, Grace Schneider in a front-page piece reports Yum about six months ago approached CDI "and asked how Churchill would feel if they withdrew from the partnership." CDI CEO Bill Carstanjen said, "They've made some changes." He added the organization was "happy to accommodate them." Terms of the CDI-Yum deal were never made public, but industry analysts "estimated the price at about $1 million a year" when the two parties first partnered in '06. Schneider notes the Woodford Reserve name is "expected to appear all around the race track -- beneath the Twin Spires on the Kentucky Derby sign, above the starting gate and on the jackets of pony riders who trot beside the thoroughbreds during the post parade" (Louisville COURIER-JOURNAL, 10/26).
NO CHANGE FOR ARENA NAME: The COURIER-JOURNAL's Schneider reports Yum Brands execs "remain committed to their partnership" regarding the naming rights to Louisville's downtown arena and "don't envision any changes" despite dropping its Derby sponsorship. Yum paid $13.5M in '10 for arena naming rights for the next decade, and terms of the contract allow the various parties to "discuss an extension starting next year" (Louisville COURIER-JOURNAL, 10/26).
