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Marketing and Sponsorship

Tabcorp Pulls A$7.5M Sponsorship Of Golden Eagle Race

Racing NSW is "on a war footing" with its Victorian counterpart and its biggest supporter after Tabcorp pulled its sponsorship for next year’s inaugural A$7.5M ($5.4M) Golden Eagle, according to Chris Roots of the SYDNEY MORNING HERALD. Tabcorp was "expected to be the major backer for the new race," for four-year-olds and to be held at Rosehill Gardens next spring, but had not signed a contract. It informed Racing NSW of its decision not to sponsor the race on Monday. Tabcorp’s decision "prompted a fierce response" from Racing NSW CEO Peter V’landys about the future of the race, which is due to be run on Victoria Derby day, Nov. 2, next year. He said, "This is unprecedented but I'm confident the race will go ahead with another sponsor. We are already talking to different sponsors." However, he "saved his most cutting remarks for Tabcorp." V'landys: "Tabcorp is a national company and not a Victorian company and we have strong relationships with them. They should be concerned [this decision] doesn't destroy them." There are "strong links" between NSW racing and Tabcorp including an exclusivity agreement that makes Tabcorp the "only betting company that can be a sponsor on NSW racecourses" (SMH, 12/10). In Sydney, Ray Thomas reported Victoria Racing Club officials were "particularly critical" of the Racing NSW announcement last week. It is understood members of the TAB board did not want to "become embroiled" in the NSW-Victoria "turf wars" and reneged on the Gold Eagle sponsorship deal believed to be worth around A$500,000 ($360,000) (DAILY TELEGRAPH, 12/10).

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