May 4 (Bloomberg) -- Big Brown delivered at the Kentucky Derby yesterday, winning horse racing's marquee event that ended tragically with the death of Eight Belles.

As Big Brown was draped with roses, Eight Belles, the first filly to run the Derby in nine years, was euthanized after breaking both of her front ankles. It was the first time in Derby history that a horse died.

The three-year old collapsed after placing second, 4 3/4 lengths behind Big Brown. Denis of Cork finished third. Big Brown, a 5-2 favorite, covered the 1 1/4-mile dirt surface in 2 minutes, 1.45 seconds before 157,770, the second-biggest crowd in the race's history, after the 163,628 in 1974.

``He's just a really intelligent horse and a pleasure to ride,'' jockey Kent Desormeaux said in a televised interview after the race. ``He has some power.''

Named after United Parcel Service Inc., Big Brown was the first horse with three or fewer career starts to win the Derby since Regret in 1915. He was undefeated in his previous three races including a victory at the Florida Derby in March. For his owners, International Equine Acquisitions Holding Co., Big Brown earned $1,451,800. His career earnings are $2,114,500. IEAH owns about 80 thoroughbred race horses.

The death of Eight Belles cast a pall over the celebratory crowd with the painful memories of Barbaro still fresh. The injury to Eight Belles is similar to the one sustained by Kentucky Derby champion Barbaro at the Preakness Stakes in 2006.

Both horses had fractures of the condylar, the bulbous bone that connects to the cannon. Barbaro was eventually euthanized because of complications from the injury.

Condylar Fracture

A condylar fracture stopped another horse at Churchill Downs three days ago. Chelokee sustained a condylar fracture of the cannon bone in his right front leg during the running of the Alysheba Stakes. He is expected to recover. Condylar fractures often begin as small cracks on the joint's surface.

Eight Belles was slowing down less than a minute after her second-place run when her jockey Gabriel Saez first noticed a problem.

``After we passed the wire, I stood up,'' Saez said in a statement. ``She started galloping funny and I tried to pull her up, but she went down.''

Eight Belles was trying to become the first filly to win the Kentucky Derby since Winning Colors in 1988.

``Eight Belles showed you her life for our enjoyment today,'' Desormeaux said. ``I'm deeply sympathetic towards that team. I've very sorry for their loss.''

Desormeaux's Third

For Desormeaux, it was his third victory at the Kentucky Derby after winning aboard Fusaichi Pegasus in 2000 and Real Quiet in 1998.

Big Brown paid $6.80 to win, $5 to place and $4.80 to show on a $2 bet. Eight Belles paid $10.60 to place and $6.40 to show, with Denis of Cork returning $11.60 to show.

The bay colt also became just the fourth favorite to win the first event in horse racing's Triple Crown since Spectacular Bid in 1979.

Big Brown started on the outside post and ran in fourth place for most of the race before pulling away down the final stretch. Since 1900, the only other Derby winner from the outside post was Clyde Van Dusen in 1929.

``He just got into a very comfortable cruising canter,'' Desormeaux said. ``Then he just started stretching his legs and adding power to the stride he has.''

Big Brown will be headed for the Preakness Stakes, the second event in the Triple Crown, on May 17 at Pimlico Race Course in Baltimore, followed by the Belmont Stakes on June 7 in Elmont, New York.

134th KENTUCKY DERBY RESULTS
============================
Finish  Horse
============================
 1      Big Brown
 2      Eight Belles
 3      Denis of Cork
 4      Tale of Ekati
 5      Recapturetheglory
 6      Colonel John
 7      Anak Nakal
 8      Pyro
 9      Cowboy Cal
10      Z Fortune
11      Smooth Air
12      Visionaire
13      Court Vision
14      Z Humor
15      Cool Coal Man
16      Bob Black Jack
17      Gayego
18      Big Truck
19      Adriano
20      Monba

To contact the reporter on this story: Carol Wolf in Cleveland at cwolf@bloomberg.net

Last Updated: May 4, 2008 09:17 EDT