Leading bookmaker Ladbrokes has told igamingbusiness.com that it is to step down as the title sponsor of the World Hurdle at the Cheltenham Festival.
The decision was foisted upon Ladbrokes since the firm isn’t currently recognised as an Authorised Betting Partner of the British Horseracing Authority.
Ladbrokes had been the event’s sponsor since 2005. As of 2016, budget airline Ryanair will take on the mantle.
As Ryanair CE Michael O’Leary explained, “We are very happy to step in to add the World Hurdle to our day’s sponsorship, alongside the Ryanair Chase.
“We remain wholly supportive of the Jockey Club’s stance with regard to Authorised Betting Partners which has led to this race becoming available for sponsorship this year.”
Thie 2016 Cheltenham Festival will commence on 15th March and will run until 18th March.