Gold Cup boosted by record-breaking deal
The Cheltenham Gold Cup will have a record-breaking £575,000 prize pot thanks to a new sponsorship deal.
Timico Technology Group has been revealed as the new backer of the Cheltenham Festival showpiece in a lucrative four-year agreement.
The big race - won last year by the Nico de Boinville-ridden Coneygree - needed a new sponsor after it emerged that Betfred, who had previously backed the race, would not be able to continue its support under the new Authorised Betting Partner scheme.
Timico has stepped, providing an immediate prize money boost of £25,000 meaning the 2016 renewal on March 18 will be worth a record £575,000 - a whopping £327,326 going to the winner - when it is run as the Timico Cheltenham Gold Cup.
Timico, started in 2004 by chief executive officer Tim Radford, is an independent information and communications technology service provider, offering a range of network connectivity, cloud, unified communication, managed IT and mobile solutions.
Its clients include Travis Perkins, World Gold Council, The Restaurant Group plc, Goodwood, Greene King plc, Jimmy Choo, The National Trust and The Savoy Hotel.
Based in Newark, Nottinghamshire, and with offices in London, Milton Keynes, Reading and Fareham, the telecoms business employs more than 400 people and plans to use sponsorship of the Gold Cup to further build its reputation ahead of a projected stock market flotation in 2017.
Radford, who currently has 12 horses in training, has been associated with top chasers Somersby, Calgary Bay and Racing Demon.
"We're thrilled to have been chosen as the new sponsors," Radford said.
"We were quick to recognise the tremendous opportunity of partnering with The Jockey Club to be part of one of the country's most prestigious events," he explained.
Ian Renton, Regional Director of Jockey Club Racecourses, added: "We're delighted to work with a partner who is so keen to use the national platform the Cheltenham Gold Cup offers to become much more widely known as part of the next stage of their growth strategy."