LADBROKES has taken over sponsorship of the two-day November meeting at Newbury, the highlight being the race formerly known as the Hennessy Gold Cup.
After 60 years of support, Hennessy has withdrawn its name from the famous handicap chase. Hennessy has also given up its sponsorship of the Irish Gold Cup at Leopardstown.
Ladbrokes had been widely tipped to take on the Newbury race following the end of their World Hurdle sponsorship at Cheltenham. Having declined to sign up as an authorised betting partner (ABP) with the British Horseracing Authority, Ladbrokes are unable to sponsor at the majority of Britain’s top tracks, but Newbury is not part of the ABP initiative. In any case, it is thought the ABP scheme could be scrapped in April when the Levy system is due to be reformed.
The value of the feature race - to be run on Saturday, December 2nd - will be increased by 25% to £250,000 this year.
Newbury chairman Dominic Burke said: “The Newbury Board’s decision to partner with Ladbrokes as the new sponsor for this prestigious meeting was made in light of the Government’s commitment to replace the existing Levy Scheme from April, 2017. Given the Government’s position, our Board felt that it could agree future sponsorship arrangements with any betting operator for race meetings taking place after that April date.”
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