BetFair Backs Royal Racecourse.
5th December, 2008
It was revealed yesterday that for the first time in three years, Ascot’s King George VI and Quen Elizabeth Stakes will be sponsored by Betfair
BetFair have made a five year commitment with a seven-figure sum with Ascot, meaning Britain’s premier all-aged middle-distance race will carry a £1million prize. The backing will see BetFair develop an alliance with Ascot as they will also support Ascot’s premier jumps race, the ‘Betfair Ascot Chase’.
The timing of the deal if perfect for the royal racecourse as its finances has been stretched after the rebuilding of its grandstand.
The link with King George marks Befair’s inaugural of a group one flat race in Britain. The alliance between the two sends another blast of cold air in the direction of the Derby festival. The Coronation Cup, the Oaks and the Derby received nominal backing at short notice this year, and efforts to find a long-term sponsor have failed despite recent trips to the Middle East.
Only nine of the 25 championship races available for commercial backing are supported by betting businesses with a further nine sponsored by racing linked Middle Eastern entities.
By Rommon
