KnysnaEpsom Derby is looking for a new sponsor after Investec bails – Knysna https://showme.co.za/knysna Knysna, South Africa for all your local and tourism information; from accommodation to events, entertainment, attractions and news - ShowMe Knysna | T Feed Wed, 06 Mar 2024 08:20:00 +0000 hourly 1 https://showme.co.za/knysna/?p=57329 Epsom Derby is looking for a new sponsor after Investec bails https://showme.co.za/knysna/news/sports-news/epsom-derby-is-looking-for-a-new-sponsor-after-investec-bails/ Tue, 28 Jul 2020 07:55:03 +0000 When Investec took over the Derby sponsorship from Vodafone in 2009, it entered the project with great determination...]]> Financial services firm ends its backing for one of the biggest sporting events

With six years still to go on its deal, international banking firm Investec has pulled the plug on its sponsorship of the famous Epsom Derby horse race.

A media statement issued by the racecourse stated: “Investec has arrived at an end to the relationship by ‘mutual consent’ with Jockey Club racecourses, which owns the Surrey track.”

When Investec took over the Derby sponsorship from Vodafone in 2009, it entered the project with great determination. One media comment at the time stated: “We view sponsorship as an excellent way to communicate our brand to an audience which already shows a passion and interest in the race.”

Three years ago, Investec extended the deal to support both the Derby and Oaks until 2026.

Then along came Covid-19 and the closure of racing in the UK. When it was announced that the sport would resume behind closed doors, a decision was made to reduce the two-day Epsom meeting to just one.

The cracks in the relationship started to show in mid-May when the UK Daily Mail reported that the banking firm was demanding a rebate of £3m as a result of the change. It argued that the new arrangements significantly devalue its sponsorship.

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