Investment management company Capel Cure Sharp today announced it was increasing its racing sponsorship by backing the entire two-mile novice pattern starting at Cheltenham this year.
The series includes televised races at Cheltenham together with events at Ascot, Sandown Park, Wetherby and Kempton Park leading up to the Supreme Novices' Hurdle, which the company had already agreed to support at this year's Festival.
Capel Cure Sharp's joint-managing director Christopher Moorsom described his delight at his company's involvement but at the same time issued a warning to those racecourses currently involved in discussions over television rights.
"Capel Cure Sharp is thrilled to be sponsoring racing and particularly such a prestigious series of National Hunt races," he said.
"Racing is the ideal sport to enable us to broaden our corporate identity. It fits very well with our network of offices throughout the country. I know our clients and staff really will enjoy this involvement in racing.
"However. We would have thought twice about this deal had the races been limited to satellite or cable television.
"We would be mortified if we lost terrestrial television coverage of the series. Our negotiations were conducted on the assumption that we had the television coverage that we have now."
The three-year deal, worth over #100,000, will start with the Capel Cure Sharp Novices' Hurdle at Cheltenham on November 10 this year, a race run as the Mackeson Novices' Hurdle this season.
The company will also sponsor the former Kennel Gate Novices' Hurdle at Ascot on December 16, the Tolworth Hurdle at Sandown next January, the Rossington Main Novices' Hurdle at Wetherby and Dovecote Novices' Hurdle at Kempton next February, as well as the Supreme Novices' Hurdle.
The news is a welcome boost for Cheltenham, following the announcement on Sunday of Whitbread's withdrawal from the Murphy's Irish Craic meeting.
Commenting on the sponsorship, Edward Gillespie, managing director of Cheltenham, said: "On behalf of Cheltenham and all the other racecourses involved in this fantastic new series, we are delighted to secure such a high-profile new sponsor to both Cheltenham and racing in general.
"The synergy of a single sponsor for the entire Pattern in the two-mile novice category will do much to add value both to the sponsor and to the championship."
