You may have noticed during the May 7 Kentucky Derby presented by Woodford Reserve (G1) a Progressive insurance brand sponsorship on 10 jockey players, including Sonny Leon, who shot horseback. far from victory Rich Strike come to victory.
The deals came together about a week before the Derby. Angie Stevens, owner of Meticulous Talent Management, has worked to find sponsorship deals for much of Derby. Working with Leverage Agency president & CEO Ben Sturner and senior vice president Jake Brackman, they were able to match racing players with the insurance company, which wanted a half field with the logo. its on their necks and pant legs.
Stevens explains: “When they run the time that NBC will show each entry in the post parade, compared to how much they spend, they get their ROI, regardless of whether they have a winner or not. no,” Stevens explained. “So for Progressive, it’s just a numbers game… With Progressive, it’s simply, ‘We need half the field to get the numbers we want.'”
Two jockeys had deals with Jeff Ruby’s Steakhouse and two had deals through the owners of their horses, leaving 16 Derby unsponsored. Jeff Ruby also offered deals to all the jockeys before Progressive came up with a slightly more lucrative offer for half the field. In the end, all 20 people got a sponsor.
While the terms of the transactions were not disclosed, one source estimated that the transactions were worth between $10,000 and $40,000 each.
In addition to Leon, the brand also has the mark of Rafael Bejarano (Jack is happy ), Joe Bravo (Medina’s Pioneers ), Manny Franco (Zozos ), Reylu Gutierrez (Haircut line ), Christophe Lemaire (Crown Pride ), Julien Leparoux (Classic Road ), Jose Ortiz (Simplify ), Luis Saez (Charge it ), and Ricardo Santana Jr. (Port of Tawny ).
For riders who don’t finish in the top five, there’s no big payday.
“So you have to remember, you know, these people, they’re flying in their families, they’re getting hotels for the families, people are buying costumes, it’s like they’re spending a lot of money and they’re not going to recoup that,” Stevens said. “So for a lot of people, the Derby sponsorship is what pays for all of their Derby expenses.
“Sponsorship in racing is very different from other sports,” she added.
Sturner said it’s important to bring new brands into the sport.
“That’s what this takes, brands that are not endemic to the sport and can resonate with popular culture,” he explains.
2014 California Chrome wears a Skechers-sponsored cooler
Leverage Agency has paired horses and brands before. They bought Evenly and thrive together for the 2018 Belmont Stakes presented by NYRA Bets (G1); Green Giants and Skechers with California Chrome and Victor Espinoza at the Belmont and Breeders’ Cup in 2014 respectively; and Monster Energy with American pharoah at Belmont Stakes 2015.
Sturner said there is a place in the sport for new brands, but they need to reach out in every way possible.
He said, “The bigger races are televised. You know the type of exposure on television, also, how do you build loyalty with this audience?”
Progressive, among other brands, is in talks to sponsor back jockeys at both Preakness (G1) and Belmont Stakes. However, it is believed that Rich Strike will not compete at Pimlico racetrack changing the landscape beyond making sure there are no Triple Crown winners this year.
“If there’s no horse running in the race, you lose a bit of interest,” says Stevens.
Without the potential Triple Crown hanging in the balance, she said, there wouldn’t be a seven-figure deal for the team to run for that title.
