Cheltenham Festival tradition comes to an end as multi-millionaire backer pulls out amid sponsorship crisis

CHELTENHAM Festival will look very different this year after a multi-millionaire sponsor pulled out.

The Grade 1 Ballymore Novices’ Hurdle – the first race on day two – has been won by some giants of the sport including Samcro and Envoi Allen.

PA

Mulryan, left, has seen his Ballymore company pull their support from one of Cheltenham Festival’s biggest races[/caption]

Impaire Et Passe was a brilliant winner for master trainer Willie Mullins last year and the contest is one of the biggest betting heats of the four-day festival.

But racing bosses are desperately seeing a new sponsor for the race this year after Sean Mulryan’s Ballymore group dramatically pulled their support.

The race is now listed under its original name of the Baring Bingham Novices’ Hurdle.

Racecourse chiefs will hope to have a new backer – but have less than nine weeks to find one.

Ballymore’s pulling out comes as Cheltenham bosses frantically look for sponsors of five further races.

As it stands, the Arkle, National Hunt Chase, Grand Annual, Martin Pipe and County Hurdle also appear without sponsors.

This means a worrying six of the 28 races in all have no official backers.

Ballymore have sponsored the hurdle race for the past six years but withdrew their support in order to focus on smaller scale events.

A statement read: “Ballymore continues to have a longstanding affiliation with horse racing, and we have been proud to support Cheltenham over the years.

“As is normal for our business, we regularly rotate our sponsorship cycles, making the decision this year to prioritise grassroots community groups in the UK and Ireland.

“While we have taken this strategic decision to move away from sponsoring Cheltenham this year, we have a strong association with the Jockey Club and the festival and hope to work with them again in the future.”

A Jockey Club spokesperson said: “Ballymore has been a fantastic partner for the Cheltenham Festival and the Jockey Club over the years, and we thank them for their longstanding support.

“We look forward to announcing an update on the Baring Bingham Novices’ Hurdle in due course.”

Ballymore, a massive construction group headed by top horse owner Mulryan, have also pulled their support from four other races.

Mulryan and wife Bernadine have been key figures in racing for years and their top horse this year is Gold Cup hope Fastorslow.

He has beat Galopin Des Champs twice and is second favourite to win the big race this year.

Mulryan’s Ballymore company can be seen on property developments all over the UK and Ireland.

Although their most recognisable is the sky pool in Vauxhall, London.

Mulryan is believed to be worth around £80million and was one of seven ‘born into rural poverty’ in Ireland.

The Mega Agency

The floating sky pool was built on a Ballymore property in central London[/caption]

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