The Qatari investment vehicle Qipco has pulled out of sponsoring the Irish Champion Stakes at Leopardstown.
Qipco and its most prominent figure, Sheikh Fahad, have been central to the development of ‘Irish Champions Weekend’ over the last six years.
The race is the most valuable event in Irish flat racing’s showpiece weekend and was worth €1.25 million last year when it was won by the Aidan O’Brien-trained Magical.
The Sheikh’s Qatar Racing colours were carried to Champion Stakes success the year before on Roaring Lion.
The current uncertain economic climate has prompted Qipco to focus its sponsorship commitments on Britain.
“Six weeks ago, before all this [Covid-19 pandemic] blew up, Leopardstown were advised that they wouldn’t be continuing so started the process of looking for a replacement. But obviously events have intervened,” said Brian Kavanagh, chief executive of Horse Racing Ireland which operates Leopardstown.
“They came in initially to get the race started and stayed longer than they’d intended. It was initially one year, then three and became six. They very much helped to build up Champions Weekend. So we’re sorry to see them go but with them all the best,” he added.
The Champion Stakes was Qipco’s sole sponsorship in Ireland but a spokesman has indicated it will continue to be a major contributor in Britain including through Champions Day at Ascot.
