Visa is eager to drop $5 million at the Belmont

Patrick McGeehan reports in the New York Times about Visa USA’s $5 million prize if Funny Cide wins the Belmont Stakes later today.

A victory by Funny Cide would actually cost Visa very little. The company bought its title sponsorship for an undisclosed sum from Triple Crown Productions, which stages the series. That fee included the cost of insurance against payoffs each and every year, Mr. Pascarella said. Mr. Pascarella said another near-victory would not necessarily cause Visa to consider dropping the sponsorship. But he said a Funny Cide triumph “would give us a reason to want to re-up the sponsorship early.”

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