Yum! Extends Kentucky Derby Deal by 5 Years
Churchill Downs Racetrack and Louisville-based Yum! Brands have extended their 2006 agreement that made Yum! the first named presenting sponsor of the Kentucky Derby by an additional 5 years. The name will remain the Kentucky Derby Presented by Yum! Brands through 2015. Terms of the deal were not released.
"Churchill Downs is very pleased to have reached this agreement with Yum! Brands, a great corporate citizen in our hometown, that extends its presenting sponsorship of the Kentucky Derby for five more years," said Kevin Flanery, president of Churchill Downs Racetrack. "Our partnership with Yum! Brands has been positive for both companies and good for the Kentucky Derby, an event that is a great American tradition and a springtime sports party known and loved around the world."
"YUM Brands is pleased to renew our presenting sponsorship of the Kentucky Derby, the Greatest Two Minutes in Sports," said Jonathan Blum, Senior Vice President, YUM Brands, Inc. "While millions of people know and love our leading restaurant brands, they may not know YUM Brands. The sponsorship of the Kentucky Derby allows us to build awareness of YUM, the world's largest restaurant company."
While today's deal will not affect the Kentucky Derby $2 million guaranteed purse, Churchill Downs says that owners and trainers who race their horses at Churchill Downs' Spring and Fall Meets will benefit as a portion of the sponsorship's revenues will go to race purses through a formula agreed upon in the most recent agreement between the parties.
Yum! Brands currently operates more than 37,000 restaurants in 110 countries, and is the parent company of KFC, Pizza Hut, Taco Bell and Long John Silver's.