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Betfred loses sponsorships

Jockey Club SmallBetfred has lost two major sponsorships – the Cheltenham Gold Cup and the Sprint Cup Festival at Haydock Park – through not being given authorised betting partners status by Jockey Club Racecourses.

The racecourse group has announced that partnership rights for these events are now available from 2016.

Contract renewal with previous partner, Betfred, has not been possible following British racing’s authorised betting partners’ initiative, said JCR.

The group has chosen to support the initiative by not agreeing new commercial deals with betting firms that are not already considered authorised betting partners or who do not agree to include a clause in new contracts requiring that status in the future once the initiative is up and running in 2016.

Paul Fisher, Group Managing Director of Jockey Club Racecourses, said: “I would like to thank Betfred for their support of both races in recent years. Betfred have been clear both partnerships performed very well for them.

"As supporters of the authorised betting partners initiative we recognised there may be some effect on current partnership arrangements, but it is essential for British racing‎ is to do everything necessary to secure sustainable funding for the future we want for the sport. That will be to the benefit of all working in British racing and also the betting industry for whom racing is a vital seven-days-a-week product."

Meanwhile, Betfair is the new headline partner of Sandown Park’s Grade 1 Tingle Creek Chase and the London National after using its status as a founding authorised betting partner of British racing to reach agreement to expand its sponsorship portfolio with JCR.

This is the first new commercial partnership for JCR with a betting operator since recently announcing it will enter into new agreements only with authorised betting partners – those who are making a fair contribution to British racing through appropriate funding agreements with the sport.

Simon Bazalgette, Group Chief Executive of The Jockey Club, said: “Betfair is a major supporter of British racing and The Jockey Club is delighted to expand our relationship together on account of their status as a founding authorised betting partner of our sport. This is further endorsement of that initiative so soon after its introduction.

“Through its long-term commercial arrangements with British racing, Betfair has recognised the importance of the sport receiving fair returns and the resulting benefits this, as well as opportunities such as race sponsorship, provides to their business.”

22 November 2015

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