The crown jewel of horse racing’s Triple Crown will stay on NBC through at least the middle of the decade.
NBC and Churchill Downs Incorporated have agreed in principle to a five-year extension of the network’s television deal to air the Kentucky Derby. The extension runs through 2015.
According to Sports Business Daily, NBC “held off” rival FOX, which mounted a surprise bid. The competition from FOX “pushed up” NBC’s rights fee to approximately $9 million per year.
NBC now plans to extend its contract to carry the Preakness Stakes, and also to reacquire The Belmont Stakes — which currently airs on ABC.
NBC first began televising Triple Crown races in 2001.
(NBC press release from Fang’s Bites; Sports Business Daily, bizjournals.com)
