Timico Technology Group has been announced as the new sponsor of the Cheltenham Gold Cup.
The Festival feature required a new backer after it emerged that Betfred, who had previously sponsored the race, would not be able to continue its support under the new Authorised Betting Partner scheme.
Timico has quickly stepped in to pick up the sponsorship, providing an immediate prize money boost of £25,000 meaning the 2016 renewal on 18 March will be worth a record £575,000 when it is run as the Timico Cheltenham Gold Cup.
Timico is an independent information and communications technology service provider, offering a range of network connectivity, cloud, unified communication, managed IT and mobile solutions.
Based in Newark, Nottinghamshire, and with offices in London, Milton Keynes, Reading and Fareham, the telecoms business employs more than 400 people and plans to use sponsorship of the Gold Cup to further build its reputation ahead of a projected stock market flotation in 2017.
