Sheikh’s racing manager says Qipco will continue to investFuture spending will aim to achieve ‘maximum effect’ for racingQatar’s Sheikh Fahad remains fully committed to
British racing, his spokesman said on Saturday, following decisions to end sponsorships in
France and
Ireland. Qipco, an investment vehicle for Qatari royals, will no longer be the title sponsor for the French Derby or the
Irish Champion Stakes and other savings will be necessary but the Sheikh will continue to give his backing to Champions Day at Ascot and the series of prestigious Flat races that lead up to it.
“This year, seeing the way the world is going, everybody has got to be much more frugal and efficient in the manner in which they spend their money,” said David Redvers, racing manager to Sheikh Fahad, whose claret colours have become familiar to racegoers through the exploits of Roaring Lion and other top-class racers. “What we are absolutely determined to do is to ensure that the money which Qipco puts into racing achieves the maximum effect for the sport. The whole purpose is to widen its appeal, to reach a bigger audience and leave a lasting legacy for Sheikh Fahad and his brothers’ investment. It’s terribly important that we use it wisely and deliver the results.”