It’s one of the most iconic events in Irish sport, even though it takes place amid the rolling hills of South West England. The sponsorship of the Cheltenham Gold Cup is now up for grabs for the first time in over 35 years.
Each March tens of thousands of Irish horse racing fans, owners, trainers and jockeys decamp to Cheltenham and this one race is the centrepiece of their ambitions.
It is the race that produced Dawn Run in 1986, and before that was won three times by the legendary Arkle.
When sponsorship was first countenanced for the race in 1980 it was taken on by the Tote and was run under their banner for 33 years. In 1912, after its purchase by Betfred the name changed too but from 2016 that association will come to an end.
It’s not a decision of the sponsor to end the relationship but rather that of the Jockey Club who run Cheltenham and the Festival.
They are supporting an initiative which is an echo of one implemented here to take betting sponsorship only from those companies who have a ‘fair and sustainable revenue relationship with the sport.’
Sponsorship has been seen as a way that betting companies based overseas can circumvent restrictions on advertising by setting up subsidiary companies to attache their name to major events.
Betfred does not appear to fall into the category of a bookmaker who has the required level of relationship with British racing and it seems to be the case that without it there will be no sponsorship.
Perhaps this is a gambit to hurry along negotiation but as things stand the sponsorship is available.
Having managed the sponsorship from 1996 through to 2000 I know it is an effective medium for reaching out to a massive audience.
now in 2015 it comes with a price tag that would be north of £250,000 and one of the more expensive properties in racing but it will be at a fraction of the money paid by Crabbies for sponsorship of the Grand National or Investec for the Derby.
Here in Ireland the Gold Cup at Punchestown was sponsored for many years by Guinness and is now run under the banner of the Irish Tote.
The Hennessy Gold Cup at Leopardstown in February is a major stepping stone to Cheltenham but will be run in 2016 for the first time in 25 years without that brand association after Hennessy withdrew.
The motor industry is bouncing back strongly in Ireland as well as Britain and it may be that a company from that sector sees the attractive demographic of the National Hunt audience as one that would be appealing.
Who knows, it may even be the case that the two races, closely linked in recent history, come under the one sponsors name, though 2016 would be a big ask for that.
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