Newmarket’s Guineas festival, King George weekend at Ascot, and the British Champions Series will require new sponsors next year in a setback for British racing.
While the Qatar Investment and Project Development Holding Company (Qipco) has decided to end its long-time sponsorship of those events, it has extended its headline sponsorship of British Champions Day, and as an official partner of Ascot, until 2026.
Qipco has sponsored the Two Thousand Guineas (G1) and One Thousand Guineas (G1) for 14 years, with the inaugural running of the first-named Classic under Qipco’s name producing one of the performances of the modern era when Frankel ran out an emphatic winner.
The King George VI and Queen Elizabeth Stakes (G1) has been sponsored by Qipco since 2014 after taking over from Betfair. The final running of the midsummer group 1 in Qipco’s sponsorship will take place at Ascot July 27.
Qipco, a private, family-run investment company based in Doha and headed by Sheikh Hamad Al Thani, provided a major boost for British racing in 2015 when announcing a multi-million-pound ten-year investment in the sport through high-profile sponsorships and prize-money boosts.
David Redvers, Qatar Racing’s manager and the sponsor’s representative, said: “We wish to concentrate our focus on developing British Champions Day, along with our partnership with Ascot at the royal meeting.
“We feel we have helped to develop the British Champions Series in the last 14 years and are proud that it has over one million followers on social media platforms and has delivered The Hall of Fame and Club 26, which recently celebrated its 10,000th member in just over a year since it was launched.
“We will continue to be huge advocates of the British Champions Series. We are also proud to have helped Newmarket maintain the importance of the Guineas festival during our involvement, which includes record prize money for the two Classic races.”
Financial services company Sagitta, online poker website Ultimate Bet and bookmaker Stan James have been the other sponsors of the two Newmarket Classics since the turn of the millennium.
Amy Starkey, managing director at Jockey Club Racecourses, the largest shareholder in British Champions Series Limited, said: “On behalf of everyone at Newmarket racecourses and the Jockey Club, I would like to thank Qipco for their sustained support and passion for the Two Thousand and One Thousand Guineas across the last 14 years.
“The growth of the Guineas festival since 2011 is a testament to Qipco’s continued investment in British racing and it has been a pleasure to work with a partner who is so committed to our sport and the Classics which remain its pinnacle.
“As the largest shareholder in British Champions Series and by extension British Champions Day we look forward to continuing to support both initiatives as they embark on their next chapter.”
Betfred sponsors the other three Classics in Britain. The bookmaker agreed a deal for the Derby and Oaks until 2026 in January and will continue to sponsor the St Leger this year having taken on the race in 2023.
Qatar Racing stepped in to sponsor the Futurity Trophy, the final group 1 of the year in Britain, at Doncaster after previous sponsor Vertem Asset Management was put into special administration in April last year, with the two-year-old contest now requiring a new backer for this year.
Qipco became the inaugural sponsor of British Champions Day in 2011 and its new commitment for the season finale at Ascot, which now features four group 1s, will extend that support to 16 years.
Redvers said: “Their Royal Highnesses Sheikhs Hamad and Fahad al Thani’s earliest involvement in British racing came with the commitment to helping promote the top-tier of the sport.
“They remain proud of the success of Qipco British Champions Day—which is a rare innovation in racing. In addition to cementing the day’s status in the world horseracing calendar, we are thrilled to have grown a new, younger audience to attend the races that day, showcasing the sport we have to offer to the fans of the future.”
Frankie Dettori does his famous flying dismount after winning the 2023 Champion Stakes aboard King of Steel
Frankie Dettori had his final day in the saddle in Britain on British Champions Day last year and this year’s fixture Oct. 19 will be worth £4 million in prize money.
Rod Street, chief executive of British Champions Series, said: “Since 2011 Qipco has provided a significant financial contribution to British racing, helping us to pay out £47m in prize money since the inception of Qipco British Champions Day at Ascot each October.
“We are delighted Qipco has chosen to continue to support this important day, reflecting our shared belief that Britain is home to the best racing in the world and merits a world-class season finale.
“We must never underestimate the importance of long-standing partnerships like these and the enormous generosity of sponsors, without whom top-class racing could not thrive. We look forward to continuing to work with them over the next two years.”
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