Investec Close To Signing 10-Year Extension On Sponsorship Of The Derby

Investec is "on the verge" of signing a 10-year extension to its sponsorship of The Derby in a multi-million-pound endorsement for racing and the world’s "premier classic," according to Mark Souster of the LONDON TIMES. A meeting was held at Epsom on Wednesday, which was "believed to have put the finishing touches to the deal" that one expert estimates could be worth £20M ($25.8M). High-level talks have been held for months, led by The Jockey Club CEO Simon Bazalgette and Investec Managing Dir Bernard Kantor. The new contract, which will take effect next year, "will supercede the present deal," which was also for 10 years and was signed in '12. The Derby, which this year is worth £1.5M ($1.9M), has "proved a great success for Investec." The new agreement will "see Investec continue its sponsorship of the Epsom spring meeting" (LONDON TIMES, 4/27).