Online sports betting company Sky Bet has agreed a deal to become the title sponsor of The Ebor, an annual horse race held at York Racecourse in England.
The five-year deal begins with this year’s race, which takes place on August 25. Bookmaker Betfred previously served as the title sponsor of the event.
Prize money at The Ebor this year will be set at £500,000 (€571,000/$702,000), up 75 per cent on last year, and this amount will double in 2019 to £1m.
The race, which is already established as the richest flat handicap in the UK, will now be amended to only allow horses aged four-years-old and upwards to take part.
Sky Bet has also committed to title sponsorship of the Melrose Stakes, which is regarded in the sport as the ‘three-year-old Ebor’. Prize money for this year’s race will increase by 20 per cent to £125,000.
In addition, Sky Bet will continue to sponsor the Listed City of York Stakes Group Three race, with a prize fund of £180,000.
Nick Rust, chief executive of the British Horseracing Authority, said: “British racing has made its commitment to the continued production of quality staying horses well known, and this sizeable investment is another boost for owners, breeders and trainers of staying horses.”
Sky Bet has sponsored York Racecourse for the past 15 years.