By Andrew Atkinson
Magners have pulled the plug on sponsoring the Cheltenham Pageant Gold Cup in an enormous blow to the racing trade.
Magners had revealed in November it might not take up their choice to sponsor the 2022 Gold Cup.
Jockey Membership Racecourses, which misplaced £90m income amid the coronavirus in 2020, introduced the Cheltenham-based charity WellChild would have their identify on the four-day Pageant assembly in March.
WellChild is a nationwide charity, which helps sick youngsters and their households.
Magners three-year deal included an possibility to increase for an extra 12 months, however Cheltenham has introduced that won’t occur.
A spokesman for the racecourse stated: “Magners and Cheltenham entered right into a partnership in 2018 which noticed Magners safe the presenting companion and sponsorship rights for the 2019, 2020 and 2021 Cheltenham Pageant and Cheltenham Gold Cup.
“Magners additionally had an possibility to increase these rights to 2022, which they won’t be taking over. We perceive and recognize that the Covid-19 pandemic has implications for all companies and sporting occasions.”
The monetary affect of the coronavirus disaster has been particularly extreme on the hospitality sector throughout Authorities lockdown restrictions imposed on retailers all through Britain.
Cheltenham additionally misplaced RSA’s longstanding 43 years sponsorship of the Pageant’s Grade One 3 miles Novice Chase lately and the Racing Publish for the two miles Novice Championship Chase, the Arkle Problem Trophy.
The Cheltenham Gold Cup, the showpiece of the March racing pageant, was re-named the Magners Cheltenham Gold Cup in a brand new four-year sponsorship settlement between Irish drinks group C&C and Jockey Membership Racecourses.
Magners, the identify for Bulmers Irish Cider exterior the Republic, turned the primary ‘presenting companion’ of the Pageant below the deal, changing expertise group Timico because the sponsor of the Gold Cup.
“This sponsorship represents a milestone for us as it’s our first main horse racing sponsorship,” stated C&C Group chief advertising officer Jason Ash, on the time of the brand new sponsorship deal.
Over 250,000 spectators attend the annual Pageant every year, with a 3rd of tickets bought by Irish racegoers.
Investec have dropped their sponsorship of the Derby at Epsom – in one other blow to racing.
The Randox Well being Aintree Grand Nationwide stay as sponsors for the world well-known occasion staged yearly in April.
Prizemoney has been slashed in racing – within the wake of the coronavirus outbreak – with racing persevering with behind closed doorways, after a short respite of spectators returning in 2020, following the preliminary coronavirus pandemic in March.
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