07/05/2009 11:00PM

Seigenfeld leaving Triple Crown Productions

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Ed Seigenfeld, the executive director of Triple Crown Productions since 1990, will step down from the position at the end of August, the company announced Monday in a release distributed by Churchill Downs Inc.

Seigenfeld, who had previously worked as the vice president of marketing at the New York Racing Association, said in a release that he would pursue "another business opportunity" in Thoroughbred racing. "It's been an exciting and rewarding run," Seigenfeld said.

Triple Crown Productions was formed in 1986 by Churchill Downs, Pimlico Race Course, and the New York Racing Association to jointly market television and sponsorship deals for the three Triple Crown races. The partnership began fraying in 2005 when NYRA reached its own television deal for the Belmont Stakes and an overall sponsorship agreement between the company and VISA expired without being renewed.

Currently, NBC holds the television rights to the Kentucky Derby and Preakness Stakes through 2010, while ABC holds the rights to the Belmont Stakes. Contracts for television rights are typically negotiated during the year before the expiration of the a contract.

"TCP is entering a new rights negotiation period that will mark the start of a new chapter, so it seems appropriate to let new faces and talents take it to the next level," Seigenfeld said.