Derby bound? For the first time in almost 18 years, ABC veteran Jim McKay may not be covering the Kentucky Derby. If he's lucky.

John the Bold, a 3-year-old colt owned by Mr. McKay and his wife, Margaret McManus, is running Saturday at Pimlico Race Track in the $125,000 Federisco Tesio Stakes Race. If the nag wins, Mr. McKay has the option to enter him in the Derby on May 2 at Churchill Downs.

And if that happens, Mr. McKay would withdraw as Al Michaels' co-host to avoid a conflict of interest. Mr. Michaels would go solo, with Mr. McKay covered like any other horse owner at the event, says an ABC spokesman.

Mr. McKay, 70, a respected 31-year ABC veteran who owns a farm outside Baltimore, will do a Derby preview Saturday from Pimlico. It will air during the 4:30-to-6 p.m. "Wide World of Sports," hosted by Frank Gifford. In his report, Mr. McKay will discuss his ownership of John the Bold.