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LOUISVILLE, Ky. - Churchill Downs Racetrack (NYSE: CHDN), a $8.18 billion market cap company with a strong track record of 51 consecutive years of dividend payments, announced today a renewed partnership with Ford, which will continue as the exclusive automotive partner of the Kentucky Derby presented by Woodford Reserve. The multi-year agreement extends through 2029 and includes naming rights for the First Turn Club, now dubbed the Ford First Turn Club, providing race-goers with a unique viewing experience and upscale amenities. According to InvestingPro analysis, Churchill Downs maintains a robust financial health score, positioning it well for such long-term partnerships.
The collaboration will also introduce new interactive vehicle displays and Ford-themed fan experiences at the racetrack, enhancing the atmosphere during Derby Week. These activations will be located at strategic areas such as the Paddock Plaza and VIP Gate, ensuring Ford’s high-profile visibility to attendees.
Casey Ramage, vice president of marketing and partnerships at Churchill Downs, expressed excitement about the extended relationship with Ford, highlighting the alignment of both brands with the Derby’s spirit. Ford’s commitment to innovation and excellence is seen as a natural fit for the event’s heritage.
The partnership also ensures Ford’s sponsorship of various Derby and Oaks activations, including branding on the Kentucky Derby Starting Gate and the Churchill Downs Barn Area, as well as a Derby Day race sponsorship and exclusive digital content.
Phil O’Connor, director of global marketing communications at Ford, emphasized the company’s mission to positively impact communities where they operate, noting Ford’s strong ties to the Louisville area through local manufacturing facilities and employment.
The 151st Kentucky Derby is scheduled for Saturday, May 3, 2025. Tickets are available for the event, which is renowned as the most attended horse race in the nation and the first leg of the Triple Crown.
Ford Motor Company (NYSE: F), based in Dearborn, Michigan, continues to focus on growth and value creation through its Ford+ plan, developing a range of vehicles and services across its Ford Blue, Ford Model e, and Ford Pro business segments.
This extended partnership between Churchill Downs and Ford is based on a press release statement and reinforces the longstanding connection between two American icons in the lead-up to one of the nation’s most celebrated sporting events.
In other recent news, Churchill Downs Incorporated reported record net revenue and adjusted EBITDA for the fourth quarter and full-year 2024. The company achieved earnings per share of $0.92, meeting analyst forecasts, while revenue slightly exceeded expectations at $624.2 million. Additionally, Churchill Downs has launched a $500 million share repurchase program, replacing a prior authorization. In analyst updates, Stifel has reduced its price target for Churchill Downs to $161 from $164, maintaining a Buy rating, while Truist Securities also lowered its target to $162 from $165, but kept its Buy rating as well. Both firms remain optimistic about the company’s long-term prospects despite recent challenges. Analysts have noted slower-than-expected growth in certain gaming segments but remain confident in the company’s strategic investments. The Kentucky Derby, a key event for Churchill Downs, is anticipated to be a significant positive catalyst in the near term.
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