'Racing needs us and we need racing' - Betfred's Fred Done relishing taking on sponsorship of all five British Classics

Fred Done has described the opportunity for Betfred to become the first company to sponsor all five British Classics as a "no-brainer" after the bookmaker this week added the 2,000 and 1,000 Guineas to a sponsorship portfolio that already houses the Derby, Oaks and St Leger.

The Newmarket Classics had been sponsored by Qipco since 2011, but a scaling back in its investment in British racing last week left the Guineas without a backer. Done moved swiftly to secure both Group 1 races and has put forward a £2 million bonus for any horse who completes the colts' Triple Crown of 2,000 Guineas, Derby and St Leger last achieved by Nijinsky in 1970.

"It was an opportunity we couldn't afford to miss," said Done of the backing of all five British Classics. "When the Guineas came along I couldn't believe it. Nobody has ever sponsored the five Classics and I'm so proud to do it. There was no argument about it and it was a done deal as soon as I heard it. It was an absolute no-brainer." 

Done's relationship with British racing soured in 2011, when the sport's stakeholders made it clear they did not want him to win the race to buy the Tote. The year before Betfred's seven-year exclusive deal to operate the Tote was due to expire, Done told the Racing Post that his commercial relationship with racing was over in all but a handful of cases and that "racing and Betfred have got to learn to live without each other".

Bridges have clearly been built in recent years and Done on Sunday said the relationship between racing and bookmakers was the strongest it has been for years and that the snobbery towards bookmakers, which he felt once existed within the sport, has largely rescinded.

"We're working well with the sport and it's different to what it was a few years ago," said Done. "We're getting on so well with racing. I think racing needs us and we need racing, [which is] opposite to what I probably said seven years ago.

"There are certain people in racing who healed the wounds. They came to me and slowly they talked me back into racing and I have to say our relationship now could not be better. 

"I missed racing when we had the fallout, but it's all back on course now."

City Of Troy on his way to post for the Derby, sponsored by Betfred for the second time this yearCredit: GROSSICK RACING

Speaking on Luck on Sunday, Done felt the sport would prosper from what he called a "rationalisation" of the number of racecourses in Britain and urged more promotion of British racing to entice customers.

"They need to give value on racecourses," he said. "They need entertainment and shouldn't become just a big pub selling hamburgers. There's got to be an occasion and they've got to work with sponsors like Betfred. If we work together we've got some sort of a chance. 

"I do believe we've got too many racecourses and when you're talking about the amount of money from media rights and the levy there's not enough to go around the 59 racecourses, and I think there should be some sort of cull there. Those words aren't going to be popular but that's reality. Keep giving value, looking after people and promoting the sport is what we've got to keep doing."

With Thursday's general election long odds-on to end with a change of government, Done felt Labour replacing the Conservatives in power could be positive for the racing and betting industries following a damaging period for both after the introduction of intrusive affordability checks on bettors.   

"Because of regulation, the bigger customers have gone offshore," said Done. "We've lost the bigger punters and they're not coming back. The game is not going to get any easier and, unless we promote, it's going to get more and more difficult. It's going offshore, believe me. You've heard it so many times, but why would you want to show your payslip or bank statement [to place a bet]? I think that boat has sailed already and is not coming back."

On the impending election, he added: "If you look through history, Tory governments have been more severe on gambling than a Labour government has ever been. Betting shops for me are a working-class environment where the social side is a big part of it.  

"I'm not that worried about a Labour government coming in and believe we're going to be okay. I think we're there or thereabouts with gambling now. If you put any more regulation on it you will kill it and it will go offshore. Let's keep it the way it is now – we're just about there."

Read this next:

Aidan O'Brien welcomes £2m Triple Crown bonus as Betfred take over backing of all five British Classics 

Fred Done's full house of Classics shows that sometimes long shots do come in 

'Back to its best' King George well placed to attract new sponsor as Qipco drops backing for Ascot Group 1 and Guineas festival 

The Racing Post is now available to follow on WhatsApp channels!

Follow Racing Post Insider on WhatsApp and you can now start receiving messages and alerts for the latest news, tips, insights, live reactions and much more. Click the group link and get Racing Post notifications straight to your phone via WhatsApp