Korea Cup and Korea Sprint Attracts Global Sponsorship in a row
Aug 01, 2024
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In April, the Korea Racing Authority and the Breeders' Cup signed an agreement to designate the Korea Cup and Korea Sprint races as the Breeders' Cup Challenge races in the United States. The main goal of the Korea Cup and Korea Sprint winner is to automatically qualify for the Breeders' Cup race in the United States and support the cost of transporting racehorses accordingly. This is the first achievement in eight years since international racing first began in Korea in 2016, proving the global recognition of Korean horse racing. The signing of a sponsorship agreement between OBS and Brown Foreman in the U.S. also proves once again that the status and influence of Korean horse racing in the global horse racing world is expanding.
OBS is an American Drubbrett racehorse auction house that currently owns about 28 Martha's, 1,200 Mabangs and two racetracks, based in Florida, the second-largest producer of Drubbrett racehorses in the U.S. after Kentucky. Over the past 10 years, it has generated more than $110 million in sales every year, of which second-generation sales account for 70% of total sales in the United States and more than 50% globally.
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OBS will sponsor $20,000 (about 27 million won) to the Korea Racing Authority, and if the Korea Cup and Korea Sprint winners are purchased through an OBS auction, an additional $5,000 will be paid to each winner.
Chairman of the Korea Racing Authority Chung Ki-hwan said, `We have resumed sponsorship of international races, which have been suspended since 2019 due to COVID-19, and we intend to raise the status of Korean international races and conduct elegant international races by signing contracts with various sponsors such as OBS and Korea Brown Foreman.' We are preparing hard for the Korea Cup and Korea Sprint international races, which are about a month away, so please give us a lot of attention," he said.
wman@sportschosun.com
