The Cheltenham Festival has bid farewell to its longest-standing sponsor as Coral announced it will no longer back the Coral Cup. The bookmaker’s partnership with the festival began in 1974, initially sponsoring the Coral Golden Hurdle, and transitioning to the Coral Cup when the race was introduced in 1993.
The Coral Cup remains one of the festival’s marquee racing events, famously won twice by Dan Skelton’s Langer Dan in 2023 and 2024—the only hurdler to claim the title twice. Coral, part of the Entain Group alongside Ladbrokes, is a major figure in British horseracing sponsorship, also supporting landmark events like the Coral-Eclipse Stakes since 1976.
This sponsorship withdrawal comes in the wake of recent government tax changes. Chancellor Rachel Reeves announced in November a sharp increase in remote gaming duty from 21% to 40%, effective April 1. Notably, horse racing remains exempt from the rise in remote betting duty on sports, which will increase to 25% by 2027 from the prior 15%.
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Simon Clare, Entain UK’s Consumer PR Director, expressed regret over the decision but highlighted the financial pressure from these tax hikes: “Coral has been the longest-running sponsor at the Cheltenham Festival since 1974, but the huge recent government tax increase on betting operators forces us to make difficult decisions, including ending our sponsorship at Cheltenham.”
Clare reassured that Entain remains committed to horseracing with ongoing sponsorships through Ladbrokes and Coral at major race meetings like the Ladbrokes King George and Coral-Eclipse. He emphasized the importance of Cheltenham Festival to the brand and promised continued promotion through retail and online channels.
However, Clare underscored the need for a rigorous evaluation of marketing investments in light of increased taxation, which has restricted the capacity for sponsorships such as the Coral Cup. He also noted that while taxes on horse racing haven’t increased comparatively, the sport remains costly due to expensive media rights and statutory levies.
Guy Lavender, CEO of Cheltenham Festival, acknowledged Coral as a “valued and hugely supportive partner” over the years, noting memorable winners from the race’s inception to recent champions. He affirmed the ongoing cooperation with Entain’s brands, Ladbrokes and Coral, which sponsor several prominent race days at Cheltenham.
Looking ahead, Lavender said the festival will announce a new sponsor for the Coral Cup soon, signaling a new chapter for this classic race.