QIPCO sign multi-million pound deal with British racing

QIPCO has committed itself to British racing until at least 2024 with the signing of a multi-million pound deal.

The deal means that QIPCO Holdings, owned by six brothers who are members of the Royal family of Qatar, has agreed to extend its sponsorship of the British Champions Series, the Guineas Festival at Newmarket and its relationship with Ascot.

In 2011, QIPCO became title sponsors of British Champions Series which starts at the Guineas Festival at Newmarket in May and culminates in British Champions Day at Ascot in October, the richest raceday in Britain worth £4million.

Since its launch, prize money across the 35 premier-race series has increased by 50 per cent to £17.4million in 2015.

Under the extended deal the value of both the QIPCO-sponsored 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 "5m raceday by 2024.

Last year, QIPCO became Ascot's first official partner and that relationship has been extended.

The new deal gives QIPCO two elevated days at Royal Ascot (the Tuesday and Friday), with enhanced branding benefits.

The company will also enjoy annual branding and marketing rights, with a particular emphasis on King George in July, where they sponsor the King George VI And Queen Elizabeth Stakes, the value of which increased this year to £1.15m.

Qipco chief executive Sheikh Hamad Bin Abdullah Al Thani 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, chairman of Qatar Racing, a subsidiary of QIPCO, said: "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."

Chris McFadden, chairman of British Champions Series, said: "The new sponsorship is good for maintaining the status of top-class races in Britain and continues to improve prize money."

Champion Series chief executive Rod Street said: "This is very positive for British racing. British Champions Series seeks to promote some of the sport's greatest assets and since QIPCO's involvement in 2011, we have seen a significant improvement in the investment in our top races and a big increase in prize money."

Ascot's chief executive Guy Henderson said: "QIPCO is a significant supporter of British racing and we extend our thanks for its long-term commitment to Ascot.

"We look forward to working with QIPCO as we seek to develop our venue and racing."

A report published by Deloitte on Wednesday highlighted the wide range of investment in British racing from QIPCO and its related entities from a grassroots level up and the benefits of QIPCO basing its racing operation in Britain, including £10m of capital investment and supporting over 90 stud and stable staff jobs across the country.