LOUISVILLE, Ky. (WDRB) -- The trophy coveted by thoroughbred racehorse owners around the world is waiting to be claimed at Churchill Downs on the first Saturday in May.

This year's 14-karat gold Kentucky Derby trophy was unveiled Thursday. It takes about five months to handcraft the statue from 65 ounces of solid gold with a jade base.

The trophy was first commissioned by Churchill Downs in 1924. It has undergone several design changes over the years, including flipping the horseshoe so the heels face up (in horse racing lore, a downward facing horse shoe lets all the luck run out).

The trophy will be presented to the owner of the 3-year-old thoroughbred that crosses the finish line first. The winning trainer, jockey, and the breeder each receive a half-size replica of the gold trophy.

The 144th running of the Kentucky Derby is Saturday, May 5.

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