LOUISVILLE — Days after Kentucky Derby Festival officials announced they might scale back an annual fireworks extravaganza, Bank One said on Saturday that it is pulling its sponsorship of the Pegasus Parade.

        The sagging economy prompted Bank One to reduce its spending on corporate sponsorships, Nancy Norris, a Bank One spokeswoman told the Louisville Courier-Journal.

        “This year we're just not able to sponsor the Pegasus Parade,” Ms. Norris said, adding the bank informed Derby Festival officials of its decision last month.

        The effect on the parade — which last year drew 250,000 to 300,000 people — isn't yet clear. A spokeswoman for the Derby Festival could not be reached.

        Ms. Norris wouldn't disclose how much Bank One contributed as the parade's sponsor, but she said it is one of the larger Derby Festival sponsorships. Bank One has sponsored the parade for four years, Ms. Norris said.

        On Wednesday, Derby Festival officials said they will scale back or cancel this year's Thunder Over Louisville if they can't find enough sponsors to pay for the fireworks and air show by Jan. 31. Thunder typically costs $1.2 million and draws more than 500,000 people to the Ohio River shore.

        Officials acknowledged that sales of the festival's $5 Thunder Over Louisville commemorative lapel pins had raised less money than hoped for the event — about $25,000.

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