Since 1999, Woodford Reserve has served as the "Official Bourbon of the Kentucky Derby," and has served as the event's presenting sponsor for the past four years.

Bill Carstanjen, CEO of CDI, said: “We are thrilled to welcome back Woodford Reserve as the presenting sponsor of the Kentucky Derby for the next five years.”

Lawson Whiting, CEO of Brown-Forman Corporation and owner of Woodford Reserve, said: “We are proud to renew this partnership, as it unites together two of Kentucky’s greatest attractions, bourbon and thoroughbreds.”

Woodford Reserve Master Distiller Chris Morris added: “We are excited for the next five years, and we are honoured to continue our partnership with Churchill Downs by creating this very special bottle for Derby 150.”

Morris added: “On the first Saturday in May, we are all Kentuckians with a glass of Woodford Reserve in hand.”

Woodford Reserve will continue to utilise alliances with Churchill Downs, the Kentucky Derby, and the Road to the Kentucky Derby. Three new Brown-Forman brands – Old Forester, Finlandia, and Herradura – are a part of the expanded partnership.

Meanwhile, last month, Churchill Downs Incorporated signed a definitive agreement to acquire all the outstanding equity interests in Exacta Systems for a total of $250m.

According to the operator, this transaction will provide CDI the opportunity to realise synergies related to the company’s recent acquisition of Colonial Downs Racetrack and Rosie’s Gaming Emporium HRM facilities in Virginia.