The "seemingly limitless spending power of Qatar was once more on show on Wednesday, when its ruling family signed up for the biggest sponsorship deal in the history of British racing," according to Chris Cook of the London GUARDIAN. Those behind the sponsorship deal "repeatedly declined even to hint at the sum of money involved" but one report has guessed at £50M ($77.5M) and that is "not being criticized." The deal runs until '24 and "a simple process of adding up the prize money for the races involved over that time suggests that figure may even be on the low side." The deal "is between Ascot, Newmarket, British Champions Series and Qipco, which is an investment vehicle for some members of Qatar’s ruling al-Thani family." The parties involved "have stated a couple of early prize money ambitions in light of the new deal." Their plan is for Champions Day at Ascot in October to be worth £5M ($7.7M) by '24, while the 1,000 and 2,000 Guineas at Newmarket will be made up to £500,000 ($776,000) from next year, "an increase of almost 25% in the case of the fillies’ race" (GUARDIAN, 6/10). In London, Marcus Townend wrote the Qipco deal, "which reflects the heavy reliance of the sport on its Middle Eastern backers," extends the '11 agreement that saw the organization unveiled as title sponsors of the British Champions Series. While race sponsorship at the Royal Meeting remains a no-go area, "the new deal gives Qipco two elevated days at the fixture (Tuesday and Friday), with enhanced branding benefits." Qipco "will also enjoy annual branding and marketing rights, with a particular emphasis on the King George Weekend in July, where they sponsor the King George VI & Queen Elizabeth Stakes whose value increased" this year to £1.15M ($1.7M). Qipco CEO Sheikh Hamad Bin Abdullah Al Thani said, "Our sponsorship of the sport has benefited our bloodstock operation and increased the company’s international profile" (DAILY MAIL, 6/11). CNN's Matt Majendie wrote Qatar's other horse racing tie-ins "include a lucrative sponsorship of Europe's richest event, the Prix de l'Arc de Triomphe -- contested at Paris' Longchamp racecourse every October" (CNN, 6/10).
