Ten-Year Qipco backing a major boost for British Racing

Rare in terms of its longevity, it involves a multi-million pound investment in racing at Ascot and Newmarket racecourses, and in the British Champions Series.

QIPCO is a private, family-run investment company based in Doha and headed by Sheikh Hamad Al Thani, who, with his brothers, is an investor in Qatar Racing and Qatar Bloodstock. It is the title sponsor of the British Champions Series, culminating in British Champions Day, and is an official partner of Ascot Racecourse.

Sheikh Hamad (pictured above, centre, with three of his brothers and their parents at Ascot last year) 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. Our sponsorship of the sport has benefited our bloodstock operation and increased the company's international profile. We are proud to support British racing and its wonderful heritage."

Under the deal, which was announced earlier today, the QIPCO 1,000 and 2,000 Guineas at Newmarket will be worth £500,000 next year, while QIPCO British Champions' Day at Ascot will be worth £5m by 2024. It offered prize money of £2m when first staged four years ago, and with QIPCO'S backing has already doubled in value.

Well known as sponsor of Britain's most valuable mid-summer race, the £1.15m King George VI and Queen Elizabeth Stakes, QIPCO became Ascot's first official partner last year and that relationship has been extended to run until 2024, cementing the business's place as a long-term partner of the Royal racecourse.

Under the deal announced today, QIPCO's profile will be elevated with enhanced branding on the Tuesday and Friday of next week's Royal Ascot meeting - this is in addition to annual branding and marketing rights at the venue, with a particular emphasis on the King George weekend.

Sheikh Fahad, chairman of Qatar Racing, said: "My brothers and I share a passion for thoroughbred racing, and British racing in particular. Nowhere else can match the quality and heritage of racing in Britain, which is why we chose to base our racing and breeding operations here.

"It is in our interests to promote the quality of British racing as the value of the horses we race and the stallions we stand is enhanced if they are competing in the country with the best racing in the world."

Sheikh Fahad with Rod Street, chief executive of British Champions Series

Since the launch of British Champions Series - which starts with the QIPCO Guineas weekend and concludes at British Champions Day in October - prize money across the 35 premier race series has increased by 50% to £17.4m. Rod Street, chief executive of British Champions Series, said: "This is very positive for British Racing. British Champions Series seeks to promote some of the sport's greatest assets and since QIPCO's involvement in 2011 we have seen a significant improvement in the investment in our top races and a big increase in prize money. QIPCO's commitment also enables us to promote the sport to a wider audience through the many initiatives led by the British Champions Series team. We look forward to working closely with QIPCO to grow British Champions Series and British Champions Day further."

Ascot's chief executive, Guy Henderson, said: "We are very pleased that QIPCO wish to extend their relationship with us as one of our partners. QIPCO is a significant supporter of British Racing and we extend our thanks for its long-term commitment to Ascot. We look forward to working with QIPCO as we seek to develop our venue and racing. We were delighted last week to announce an increase in the value of the King George VI and Queen Elizabeth Stakes (sponsored by QIPCO) to £1.15 million and have some exciting plans around King George weekend this year."

Sheikh Fahad, with a possible future QIPCO British Champions Series winner

Photographs - Laurence Squire