LOUISVILLE, Ky. — The Kentucky Derby Festival is looking for a new sponsor to help fund its annual Pegasus Parade. The parade was the event that established the Derby Festival back in 1956. It has brought the community together on Broadway for decades.
“This is the first time in many years that the Pegasus Parade does not have a sponsor,” said Matt Gibson, Kentucky Derby Festival President and CEO. “The parade is set to march down Broadway in April, and we’re working to raise all we can to put on the very best event for the community.”
The Festival needs $150,000 in sponsorship to help cover the costs of producing the event. Overall, the 100-unit event costs more than $200,000 to put on each year. Those expenses include everything from crowd support and site rental fees to entertainment and the increasing costs of helium for the large inflatable balloons.
“The Derby Festival’s goal is always to produce events that are affordable for the community and many free with a Pegasus Pin admission,” said Gibson. “We couldn’t do what we do every spring without the support of so many community-minded sponsors.”
Locally owned Republic Bank has helped sponsor the parade since 2002. Republic Bank continues to be a supportive partner of the festival in 2020, but is moving its sponsorship from the parade to other events on the festival’s schedule.
“We are grateful to Republic Bank for their long-time support of the parade and their commitment to the Derby Festival with their new sponsorships,” said April Zik, Kentucky Derby Festival director of sponsorship sales. “Republic Bank continues to be a great friend of the festival. We are hopeful that another company or companies will step forward to help sponsor the parade for 2020.”
The Pegasus Parade is one of nearly 70 events produced by the Kentucky Derby Festival every spring. The Pegasus Parade alone provides an estimated impact of $22 million to the area’s economy.
Businesses who would like more information about sponsoring the 2020 Pegasus Parade can contact April Zik at (502) 572-3836 or [email protected].