UPDATE: On August 21st it was announced that the 2020 Kentucky Derby will be held without fans.
“We were confident in that plan, but dedicated to remaining flexible using the best and most reliable information available,” the statement said. “With the current significant increases in Covid-19 cases in Louisville as well as across the region, we needed to again revisit our planning. We have made the difficult decision to hold this year’s Kentucky Derby on September 5 without fans.”
For the first time in history, the Kentucky Derby will not be the first jewel in horse racing's Triple Crown. Due to the COVID-19 crisis, the race, usually scheduled for the first Saturday in May, is set for Saturday, September 5th.
It was also recently announced that attendance for the race would be limited to 23,000 fans and that there would be no general admission seating and the infield would be closed. Standing-room-only tickets have also been eliminated. Reserved seating will be limited to 40% capacity. Last year, attendance for the Derby was 150,729.
Based on the limited attendance, the estimated ticket market value losses for the Kentucky Derby is just over $181 million. That estimate is based on secondary market value*number of seats based on last year's attendance figures. This is not a precise measure, but the simplest way to benchmark the magnitude of losses for the event.