Leading bookmaker, Coral, has signed on as the new title sponsor of Ireland’s horse racing event, the Punchestown Gold Cup. The terms of the deal have not been disclosed, but it has been confirmed that the new arrangement will be in place for the 2017 Punchestown Festival which will take place from Tuesday, April 25 to Saturday, April 29.

The most prestigious three mile chase and national hunt fixture in the Irish racing year, and the main event of the five day Punchestown Festival, the race will now be known as the Coral Punchestown Gold Cup. Running on day two of the festival, the prize fund will now be increased by €50,000 to €250,000.

“We are both proud and excited to be able to associate the Coral name with such a prestigious Irish jump race and we are looking forward to working with the Punchestown team to promote this year’s contest and those in years to come,” announced Simon Pare, PR director at Coral. “The Punchestown Festival is one of the biggest betting weeks of the year and we are thrilled to be involved in it.”

The five day 2017 Punchestown Festival includes 11 Grade 1 contests with more than 120,000 visitors expected to attend this year.

“Coral first sampled the sponsorship experience at Punchestown on the final day of the 2016 festival and have returned this year as title sponsors at one of the most prestigious fixtures on the Irish sporting calendar,” stated Janet Creighton, head of sponsorship at Punchestown. “I certainly think that shows their commitment to Punchestown and indeed to Irish racing. We look forward to working alongside the Coral team to ensure delivery of a very rewarding sponsorship experience for them.”