The Kentucky Derby Festival is looking for a new sponsor for its anchor event.
The Pegasus Parade helped establish the festival more than 60 years ago, but after many years of partnership with Republic Bank, it now needs a sponsor that can commit to at least $150,000.
“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,” KDF President and CEO Matt Gibson said in a statement Thursday.
Locally-owned Republic Bank is moving its sponsorship from the parade to other events on the festival’s schedule.
“Republic Bank continues to be a great friend of the Festival,” said April Zik, Kentucky Derby Festival Director of Sponsorship Sales. “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 KDF every spring. The Pegasus Parade alone provides an estimated impact of $22 million to the local economy.