French cognac brand Hennessy has opted to conclude its long-running deal with the Gold Cup annual UK horse-racing event amidst reports of a replacement partner stepping in.
Hennessy began its support of the Gold Cup in 1957 and served as title sponsor every year through to the most recent edition of the event, which took place on November 26 and was won by jockey Colin Tizzard on Native River.
The first Gold Cups Hennessy sponsored took place at Cheltenham Racecourse, before the event relocated to current home Newbury Racecourse in 1960.
Although organisers are yet to announce a successor, the Daily Mail newspaper has said that gambling company Ladbrokes Coral Group will be announced as the new title sponsor later this week.
According to the newspaper, the combined company, which was formed last month through a merger of bookmakers Ladbrokes and Gala Coral, would not fall under the British Horseracing Authority's authorised betting partner scheme.
Neither Ladbrokes Coral Group, nor the Ladbrokes or Coral brands, have been approved as authorised betting partners. However, Newbury operates as an independently owned course.