Visa Gives Up Triple Crown Sponsorship...will sponsor the Derby.

[MsUSA]

The credit card company Visa announced Monday it will end its sponsorship of horse racing's Triple Crown in favor of a five-year deal to sponsor the Kentucky Derby, the best-known leg of the fabled three-race series.
Visa and Churchill Downs Inc., which owns the Kentucky Derby race track, announced their new deal in statements issued Monday. It will begin in 2006. Financial terms were not disclosed.

"This move gives us the ability to strategically position our Visa Signature product alongside the signature event in thoroughbred racing," said Visa USA senior vice president Michael Lynch.

The company has sponsored the Triple Crown since 1996 and offered a $5 million bonus for any horse who won the Derby, Preakness and Belmont Stakes. It has never had to pay it.



I wonder if this has anything to do with people paying off the credit cards??? Are they losing money??