Native River  on his way to winning the 2016 Hennessy Gold Cup at Newbury. (Pic: Courtesy of Newbury Racecourse).

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PRIZE MONEY for Newbury’s most prestigious chase has been boosted to £250,000 with Ladbrokes revealed as the new sponsor of the race formerly known as the Hennessy Gold Cup Chase.

Newbury today (Monday) announced a five-year deal with the bookmaker to sponsor 13 of the 14 races at the two-day meeting that this year is scheduled for Friday, December 1 and Saturday, December 2.

Stakes for the feature chase represent a 25 per cent increase from the 2016 contest which carried total prize money of £200,000 when won by Native River, a leading contender for the Cheltenham Gold Cup.

Total prize money for the 2017 meeting is up £100,000 to £750,000. Ladbrokes will sponsor 13 of the 14 races over the two days, the only exception the Sir Peter O’Sullevan Handicap Steeplechase on December 2, which will continue to be supported by the friends of Sir Peter.

Jim Mullen, chief executive of Ladbrokes Coral Group, said “I am extremely pleased and proud that Ladbrokes has reached a deal with Newbury Racecourse and we have made a five-year commitment to sponsor the two-day late November/early December meeting featuring the great steeplechase formerly known as the Hennessy Gold Cup.

“Horseracing is a vital part of the heritage of our business, and we are passionate about maintaining our support of the sport. We have committed to work in partnership with Newbury Racecourse to build the two days of this fixture into one of the most compelling attractions not just in the racing calendar, but in that of sport as a whole.”

Dominic Burke, chairman of Newbury Racecourse, added: “The directors of Newbury are delighted to welcome Ladbrokes as sponsor of our most high profile and popular jump meeting of the year.

“Ladbrokes has supported many races at Newbury over the years, and we are thrilled that Jim Mullen and his team share our ambition to take what is now a superb two-day race meeting to an even higher level, with both days being televised by ITV in 2017.”

Horse Talk with Simon Jackson. Showcasing horse racing in London and the south east.