More Sports
Mike Repole buys nearly 1.5% stake in Kentucky Derby owner Churchill Downs
Repole says he purchased one million shares over four days; the amount paid was not disclosed.
Mike Repole has purchased one million shares in Churchill Downs Inc., giving him a stake of nearly 1.5% in the company that owns the Kentucky Derby, Front Office Sports reported Friday.
Repole announced the purchase Thursday through his Repole Stable social media account. He said he bought the shares over four days and might purchase more, but did not disclose what he paid.
The investment accompanies his call for stronger marketing, innovation and leadership in horse racing. Repole said he looked forward to working with chief executive Bill Carstanjen, the board and management.
Churchill Downs welcomed the investment in a statement provided to Front Office Sports, saying it appreciated Repole’s interest in the sport’s future. The announcement did not give Repole a management or board position.
Repole is a beverage entrepreneur, racehorse owner and investor with interests that include NoBull and the United Football League. His share purchase establishes a minority stake rather than control of Churchill Downs.
