The Newark based company has agreed to sponsor the event for four years, which will be now named the ‘Timico Gold Cup’. Furthermore as Gold Cup sponsors the firm has boosted the prize pot by £25,000 to a record £575,000.
Timico takes over the Gold Cup title sponsorship from Betfred, who were not allowed to participate in the bid due to the operators ongoing refusal to agree to the British Horseracing Authority’s (BHA) levy requirements.
Following just two weeks after news broke that the Gold Cup would need a title sponsor, Cheltenham officials were pleased to announce Timico as new race backer.
Cheltenham officials further detailed to UK news sources that the Gold Cup had received significant interest from well-known UK brands for title sponsorship.
However Timico’s bid proved to be the strongest as the firm has a keen interest in UK racing providing communication services at Goodwood and Newbury. The firm is further served by racing enthusisats Lord Daresbury (Chairman) and Tim Radford (CEO)
The news sees Timico become the first non-betting firm to sponsor the race since Piper Champagne in 1980.