QIPCO Holding has signed a new contract to extend its sponsorship of the British Champions Series and British Champions Day for a further five years in an improved deal which enables a £4m QIPCO British Champions Day within the term of the enhanced new contract.
The day is currently worth £3m, already by far the most valuable raceday in this country.
The improved deal secures ongoing title sponsorship of the QIPCO British Champions Series, including full partnership rights for its starting point at the QIPCO Guineas Festival at Newmarket, the QIPCO Sussex Stakes at Goodwood mid-way through the Series, and the grand finale on QIPCO British Champions Day.
The new agreement will enable British Champions Series to make regular six-figure prize money increases on QIPCO British Champions Day. Significantly, the deal provides additional prize money incentives which elevate the sponsorship levels still further should any of the three non-Group 1 races on QIPCO British Champions Day be upgraded.
The upgrading of these races remains a major short-term goal for the Series and its sponsor, with substantial prize money increases for these races set to follow as soon as this is achieved.
A combination of planned prize money increases and upgrades to all three races could make a £4m QIPCO British Champions Day a reality as early as 2016.
Sheikh Hamad bin Abdullah Al Thani (pictured), Chief Executive of QIPCO Holding, said: "This new deal highlights our commitment to the sport in this country and our desire to make QIPCO British Champions Day the best day's Flat racing in the international calendar.
"The deal reflects the very positive experience that we have enjoyed with British racing to date, and the pleasure we derive from our association with Britain's most famous and iconic race meetings such as the Guineas, Derby, Royal Ascot, Goodwood and York.
"We believe that the British Champions Series helps to signpost Britain's most important and prestigious races to a wider audience and are delighted that it has already contributed to a new broadcast deal for the sport starting in 2013."
Chris McFadden, Chairman of British Champions Series Limited, said: "This is fantastic news for British Horseracing. We are absolutely delighted with this new, long-term deal with QIPCO, which puts British Champions Series Limited on a firm financial footing and which will enable us to meet our commercial objectives.
"The Series is a partnership between QIPCO and British Racing and on behalf of everyone involved in the industry in this country, and in particular Newmarket and Goodwood who are thrilled to benefit from the long-term sponsorship of the Guineas Festival and Sussex Stakes, I would like to thank Sheikh Hamad and his brothers for their fantastic ongoing support."
24 July 2012