QIPCO has today announced their continued sponsorship of British Champions Series until 2024 in a landmark commercial deal.
Since 2011 QIPCO has supported the Series, which runs from the QIPCO Guineas Festival until Britain's richest raceday on QIPCO British Champions Day at Ascot. Prize money across the 35 premier race series has increased by 50% since its launch to £17.4 million in 2015.
Under the extended deal the value of both the QIPCO 1000 and 2000 Guineas at Newmarket will increase to £500,000 each from 2016 and the ambition is to develop QIPCO British Champions Day into a £5 million raceday by the end of the contract.
In a deal that represents a multi-million pound investment for British Racing, QIPCO has also announced that they will continue their position as Official Partner of Ascot until 2024.
The new deal gives QIPCO two elevated days at Royal Ascot (Tuesday and Friday), with enhanced branding benefits. QIPCO will also enjoy annual branding and marketing rights, with a particular emphasis on the King George Weekend, where they sponsor the King George VI & Queen Elizabeth Stakes whose value increased this year to £1.15million.
Both deals are indicative of QIPCO's continued commitment to British Racing which accompanies their growing racing and breeding interests, as highlighted by a Deloitte report published today. The report draws together the wide range of investment in British Racing by QIPCO and its related entities, from a grassroots level up and demonstrates the benefits of QIPCO basing their racing operation in Britain, including £10m of capital investment and supporting over 90 stud and stable staff jobs across the country.
Sheikh Hamad Bin Abdullah Al Thani, Chief Executive of QIPCO, said: “As a private, family-run investment company, we are privileged to have built an association with world-renowned events such as Royal Ascot and British Champions Series, the very best of British racing. Our sponsorship of the sport has benefited our bloodstock operation and increased the company's international profile. We are proud to support British racing and its wonderful heritage.”
Sheikh Fahad Bin Abdullah Al Thani, Chairman of Qatar Racing, a subsidiary of QIPCO, added: “My brothers and I share a passion for thoroughbred racing, and British racing in particular. Nowhere else can match the quality and heritage of racing in Britain, which is why we chose to base our racing and breeding operations here.
“It is in our interests to promote the quality of British racing as the value of the horses we race and the stallions we stand is enhanced if they are competing in the country with the best racing in the world.”
New to the Paulick Report? Click here to sign up for our daily email newsletter to keep up on this and other stories happening in the Thoroughbred industry.
Copyright © 2019 Paulick Report.