An autopsy will be performed Monday on the unidentified man, whose body was discovered in the stable area of the famed race track early Saturday morning.
A Churchill Downs security executive told WAVE-TV, Louisville, the death did not appear to have anything to do with the derby, which drew thousands of spectators and millions of dollars in wagers.
Police described the victim as a Hispanic male and was discovered in Barn 8 on the back stretch by an employee of trainer Angel Montano, WAVE-TV reported. Montano did not have a horse in this year's derby field.
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