Cheltenham racecourse is seeking a new sponsor for its prestigious Gold Cup from 2022 onwards after current backer Magners opted not to renew its initial contract that ends next year.
Having taken over sponsorship of the race from Timico in 2019 in a three-year deal with the option to extend for a further year, Magners also became the presenting partner of the Cheltenham five-day meeting with it rebranded to ‘The Festival, presented by Magners’.
A spokesperson for Cheltenham racecourse told the Racing Post: “Magners and Cheltenham entered into a partnership in 2018 which saw Magners secure the presenting partner and sponsorship rights for the 2019, 2020 and 2021 Cheltenham Festival and Cheltenham Gold Cup.
“Magners also had an option to extend these rights to 2022, which they will not be taking up. We understand and appreciate that the Covid-19 pandemic has implications for all business and sporting events.”