Qatari private investment company QIPCO Holdings has increased its presence in British horse racing through a wide-ranging five-year deal to become the first ever official partner of Royal Ascot.
QIPCO, the existing sponsors of British Champions Day at Ascot and the corresponding British Champions Series, will serve as the headline sponsor of the King George VI & Queen Elizabeth Stakes.
Prize money for the race is to be increased to £1m (€1.2m/$1.6m), making it Ascot’s third QIPCO sponsored seven-figure race alongside the £1.3m Champions Stakes and the Queen Elizabeth II Stakes – also contested for £1m.
The deal also means QIPCO is an official partner of Ascot racecourse and will benefit from comprehensive branding rights across the racecourse and branding for all six races on the opening day of the Royal Meeting.
Betfair is the outgoing sponsor of the King George Stakes, having been associated with the race for five years. The online bookmaker will remain as the title sponsor of the Ascot Chase in February.