QIPCO Drops Sponsorship but Ascot Unperturbed

Ascot believes they can find a new sponsor for the Gr1 King George VI and Queen Elizabeth Stakes after Qatar Investment and Project Development Holding Company (QIPCO) dropped their sponsorship of that race as well as the Newmarket's Guineas festival and the British Champions Series, reports racingpost.com. QIPCO will retain key sponsorship over the British Champions Day until 2026. “We're incredibly grateful for what Qipco has done with us with the King George. We've built the race right back to its best and it was widely acclaimed as the best race in Britain last year. Our relationship with Qipco will continue through its Ascot partnership, with the focus on Royal Ascot,” said Ascot's director of racing Nick Smith. “With the King George in such a good place, we've got a good year to sort a new sponsor, hopefully.” The King George VI and Queen Elizabeth Stakes has been sponsored by QIPCO since 2014 after taking over from Betfair and the final race under QIPCO’s sponsorship will be on July 27, 2024. “We wish to concentrate our focus on developing British Champions Day, along with our partnership with Ascot at the royal meeting,” said David Redvers, Qatar Racing’s manager and the sponsor’s representative. “We feel we have helped to develop the British Champions Series in the last 14 years and are proud that it has over one million followers on social media platforms and has delivered the Hall of Fame and Club 26, which recently celebrated its 10,000th member in just over a year since it was launched.” He claimed, “We will continue to be huge advocates of the British Champions Series. We are proud to have helped Newmarket maintain the importance of the Guineas festival during our involvement, which includes record prize-money for the two Classic races.” QIPCO is a private, family-run investment company, based in Doha and headed by Sheikh Hamad Al Thani.