This is a very old entry — images are small, formatting is off.
About: “Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, the Kentucky Derby, continuously since 1875.” 2013 marks the 139th edition of the Kentucky Derby.
Design by: SME.
Ed.’s Notes: This is the fifth year in a row SME designs the logo.
Relevant links: Press Release (with thorough design explanation).