Slow Track: Preakness Sees Declines In Sponsorship, Ticket Sales
 |
Sponsorship, Ticket Sales Down
For Upcoming Preakness Stakes |
Maryland Jockey Club Senior VP & Associate GM Dwayne Yuzik said that sponsorship for the May 17 Preakness Stakes is "down about 10[%] and ticket sales are off about 1.5[%] from the same period last year," according to Tricia Bishop of the Baltimore SUN. Yuzik had "hoped to attract a national title sponsor for the event, but couldn't swing it this year." Yuzik: "Money's tight in the advertising world." Bishop reports sponsorship dollars are down "largely because Claritin, which sponsored a $100,000 race last year, did not participate this year." Additionally, corporate tents "began shrinking" in '02, as there will be 29 tents at an average cost of $35,000 this year, down from 45 in '01. And Baltimore Sun Media Group VP/Business Development Tim Thomas said that the newspaper is "forgoing its Preakness party this year because of 'challenging economic issues' within the media industry." Bishop writes the declines are "not likely to have major impact" on the event's bottom line. But economists said that at a time when Pimlico Race Course and its parent company Magna Entertainment Corp. are "struggling to remain viable, anything that threatens the success of the Preakness is worth watching." Preakness organizers said that alcohol sales are "expected to rise because patrons are no longer allowed to bring their own," and corporate tent spending is "up, even though the number of tents will be the same as last year." New sponsors and tent renters for the '08 event include Old Mutual, Caesars Atlantic City Casino and The Examiner newspaper (Baltimore SUN, 5/9).
|
