Racing's oldest sponsored event was given a new lease of life today as Whitbread plc announced that it will continue to back the Whitbread Gold Cup at Sandown for at least a further two years.
The company had previously announced that this year's renewal would be the final running under their banner, having backed the contest since 1957 - the longest-running sponsorship in British sport.
However a proposal from Sandown persuaded Whitbread to change their mind, although from next year new backers will be required for the supporting races on the card.
Whitbread chief executive David Thomas said: "After we had informed Sandown that we were considering the withdrawal of our support for the day, the racecourse came back with a proposal involving only the Whitbread Gold Cup itself.
"Due to the prestige and heritage which is associated with the race, we reconsidered the decision and felt it was worthwhile retaining our involvement and therefore continuing the longest-running sponsorship in British sport."
The Whitbread is the highlight of what is now the final day of the National Hunt season on April 29th.
In future it will carry enhanced prize money to maintain its position as the country's second most valuable jumps handicap behind the Martell Grand National.
Sue Ellen, managing director of Sandown's owners United Racecourses, welcomed Whitbread's decision.
She said: "We are thrilled that Whitbread have decided to continue their sponsorship of the last major race of the National Hunt season which is now held on the final day of the season.
"Having secured the substantial backing of our longest-standing sponsor for a further two years, it gives us the opportunity to build the meeting for future."
Whitbread had been set to pull out of sponsorship completely, claiming the sport did not fit in with their target young audience.
The company announced their withdrawal from the Murphy's Craic meeting at Cheltenham in November earlier this year.
