Qatar private investment firm QIPCO holding has secured a long-term extension to its sponsorship of horseracing’s British Champions Series.
QIPCO established ties with the series in 2011 and the extension is for nine years, from 2016 to 2024.
The series runs annually from the Guineas Festival until Britain’s richest race day, the British Champions Day at Ascot. QIPCO will also continue as an official partner of Ascot racecourse until 2024.
Prize money across the series’ 35 races stands at £17.4m (€24.2m/$26.4m) for 2015 and the value of the 1,000 and 2,000 Guineas at Newmarket will increase by £500,000 each from 2016 under the fresh terms.
QIPCO intends to develop British Champions Day into a £5m race day by the end of the contract.
The new deal gives QIPCO two elevated days on the Tuesday and Friday of Royal Ascot, when it will enjoy enhanced branding benefits. QIPCO will also benefit from annual advertising and marketing rights, with a particular emphasis on the King George Weekend, where it sponsors the King George VI & Queen Elizabeth Stakes.
Sheikh Hamad Bin Abdullah Al Thani, chief executive of QIPCO, said: “As a private, family-run investment company, we are privileged to have built an association with world-renowned events such as Royal Ascot and British Champions Series, the very best of British racing. Our sponsorship of the sport has benefited our bloodstock operation and increased the company’s international profile.”