Ballymore ends support of Cheltenham hurdle.

Byline: Graham Green

THE Cheltenham workload to find sponsors for next year's festival's increased yesterday when it was revealed Ballymore Properties would no longer be supporting the 2m5f novice hurdle that opens the second day of the meeting.

The company, which in common with the rest of the construction industry has been hard hit by the recession, and whose boss Sean Mulryan has cutback on his string of racehorses, decided not to renew its contract for the race after completing a three-year deal.

The news was not unexpected after Cheltenham's director of sponsorship, Peter McNeile, admitted last month that talks with a then un-named festival sponsor appeared unlikely to end in agreement, but having confirmed Ballymore Properties was the party in question, managing director Edward Gillespie was confident a replacement would be found.

However, Neptune Investment Management, a UK fund management company which is sponsoring at Cheltenham for the first time on the Friday of Cheltenham's mid-December fixture, is not expected to step into the breach, despite managing director Robin Geffen being a racing enthusiast and owner with trainer Evan Williams.

Sponsorship of the event, registered as the Baring Bingham Novices' Hurdle, won in March by Mikael D'Haguenet, has changed several times since it was first run in 1971 as the Aldworth Hurdle, but the quality of runners has remained consistent with a number of winners, including Istabraq and Hardy Eustace, going on to win the Champion Hurdle.

Cheltenham is also seeking a backer for the Supreme Novices' Hurdle, the race William Hill stepped in at a late stage to back last season, although the possibility of the bookmaker again filling any void has not been ruled out.

Gillespie said his management team had "an open mind about potentially broadening the [sponsorship] portfolio", and added: "As always at this time of year, many discussions are taking place with a number of potential sponsors for the festival.

"The fact that Ballymore Properties are no longer in mean that we are progressing those and we would hope to have an outcome fairly soon."

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Mikael D'Haguenet wins last season's Ballymore Properties Novices' Hurdle