The Irish Horseracing Authority faces a prizemoney bill of close on £300,000 after confirmation that some big races sponsors such as Murphys and BMW are dropping out of next week's re-scheduled National Hunt festival.
However, the sponsorship cost on Wednesday's £125,000 feature steeplechase, which had been known as the Heineken Gold Cup, has been picked up by Irish Distillers and Tote Ireland. The race, which is expected to feature Florida Pearl and last year's winner, Commanche Court, will now be known as the Powers Gold Label-Tote Gold Cup.
The Independent Group has taken on the sponsorship of Tuesday's £80,000 BMW Chase but have dropped out of backing the £65,000 novice hurdle on the Tuesday which is one of two Grade One races over the three days at Fairyhouse that will not have a sponsor.
The other Grade One race which will not be sponsored is the £85,000 IAWS Champion Four-Year-Old Hurdle on the Thursday, and an IHA spokesperson said yesterday that a total of five races on the opening day of the festival will be unsupported. Two more races on the Wednesday will not have a sponsor and three others on the Thursday. The IHA has agreed to pick up any prizemoney slack and the total fund on these eight races is almost £300,000.
The rescheduling of the festival to three days at Fairyhouse and the Friday at Leopardstown is a result of the Punchestown track failing a recent inspection, a setback that will hit the IHA in the pocket.
On a more positive note, four new sponsors have been found, including the music promotion company, MCD, and other major sponsors such as Ballymore Properties and Swordlestown Stud have stayed loyal.
An IHA spokesperson said yesterday: "A number of sponsors are associated in particular with Punchestown and others for reason possibly connected with the foot-and-mouth situation could not come across."
Marcus Tregoning is expected to allow Nayef to take his chance in this afternoon's Macau Jockey Club Craven Stakes at Newmarket provided there is no overnight rain.
The colt was impressive on his two outings as a juvenile and earned rave reviews after his trouncing of Hill Country at Ascot on heavy ground in October.
