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

Ascot officials believe the King George VI and Queen Elizabeth Stakes is "back to its best" and well placed to attract a new sponsor after it was revealed the Qatar Investment and Project Development Holding Company (Qipco) will not be extending its backing of the midsummer Group 1 highlight, Newmarket's Guineas festival or the British Champions Series.

While Qipco has decided to end its long-time backing of those events at the end of this year, it has extended its headline sponsorship of British Champions Day, and its role as an official partner of Ascot, until 2026.

The King George VI and Queen Elizabeth Stakes – won last year by Hukum – has been sponsored by the company since 2014 after taking over from Betfair. The final running of the midsummer Group 1 in the current sponsorship will take place at Ascot on July 27.

Ascot's director of racing Nick Smith said: "We're incredibly grateful for what Qipco has done with us with the King George. We've built the race right back to its best and it was widely acclaimed as the best race in Britain last year. Our relationship with Qipco will continue through its Ascot partnership, with the focus on Royal Ascot.

"With the King George in such a good place, we've got a good year to sort a new sponsor hopefully." 

Qipco has sponsored the 2,000 and 1,000 Guineas for 14 years, with the inaugural running of the first-named Classic under its sponsorship producing one of the performances of the modern era when Frankel run out an emphatic winner.

Nick Smith: "With the King George in such a good place, we've got a good year to sort a new sponsor hopefully"Credit: Alan Crowhurst

The private, family-run investment company, which is based in Doha and headed by Sheikh Hamad Al Thani, provided a major boost for British racing in 2015 when announcing a multi-million pound ten-year investment in the sport through the high-profile sponsorships and prize-money boosts.

David Redvers, Qatar Racing’s manager and the sponsor’s representative, said: “We wish to concentrate our focus on developing British Champions Day, along with our partnership with Ascot at the royal meeting. 

“We feel we have helped to develop the British Champions Series in the last 14 years and are proud that it has over one million followers on social media platforms and has delivered the Hall of Fame and Club 26, which recently celebrated its 10,000th member in just over a year since it was launched.

“We will continue to be huge advocates of the British Champions Series. We are proud to have helped Newmarket maintain the importance of the Guineas festival during our involvement, which includes record prize-money for the two Classic races.”

Qipco has sponsored the 2,000 and 1,000 Guineas since 2011Credit: John Grossick (racingpost.com/photos)

Financial services company Sagitta, online poker website Ultimate Bet and bookmaker Stan James have been the other sponsors of the two Newmarket Classics since the turn of the millennium. 

Betfred sponsor the other three Classics in Britain, having in January agreed a deal for the Derby and Oaks until 2026 and continuing to sponsor the St Leger this year after taking on the race in 2023.

Amy Starkey, managing director at Jockey Club Racecourses, said: “On behalf of everyone at Newmarket racecourses and the Jockey Club, I would like to thank Qipco for their sustained support and passion for the 2,000 and 1,000 Guineas across the last 14 years.

“The growth of the Guineas festival since 2011 is testament to Qipco's continued investment in British racing and it has been a pleasure to work with a partner who is so committed to our sport and the Classics which remain its pinnacle.

“As the largest shareholder in British Champions Series and by extension British Champions Day we look forward to continuing to support both initiatives as they embark on their next chapter.”

Qipco British Champions Day: Ascot's season finale has gone from strength to strengthCredit: Edward Whitaker

Qatar Racing stepped in to sponsor the Futurity Trophy, the final Group 1 of the year in Britain, at Doncaster after previous sponsor Vertem Asset Management was put into special administration in April last year, and the two-year-old contest now requires a new backer for this year.

Qipco became the inaugural sponsor of British Champions Day in 2011 and its new commitment for the season finale at Ascot, which now features four Group 1s, will extend that support to 16 years.

Redvers said: “Their Royal Highnesses Sheikhs Hamad and Fahad Al Thani’s earliest involvement in British racing came with the commitment to helping promote the top-tier of the sport. 

“They remain proud of the success of Qipco British Champions Day, which is a rare innovation in racing. In addition to cementing the day's status in the world calendar, we are thrilled to have grown a new, younger audience to attend the races that day, showcasing the sport we have to offer to the fans of the future.”

British Group 1s without a sponsor

2,000 Guineas
1,000 Guineas
King George VI and Queen Elizabeth Stakes
Futurity Trophy

Frankie Dettori had his final day in the saddle in Britain on British Champions Day last year and this year's fixture on October 19 will be worth £4 million in prize-money.

Rod Street, chief executive of British Champions Series, said: “Since 2011 Qipco has provided a significant financial contribution to British racing, helping us to pay out £47m in prize-money since the inception of Qipco British Champions Day at Ascot each October.

"We are delighted Qipco has chosen to continue to support this important day, reflecting our shared belief that Britain is home to the best racing in the world and merits a world-class season finale.

"We must never underestimate the importance of long-standing partnerships like these and the enormous generosity of sponsors, without whom top-class racing could not thrive. We look forward to continuing to work with them over the next two years.”

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