Victor Chandler Chase transfers to Cheltenham for the next two years.

The Victor Chandler Chase will be run at Cheltenham for the next two years while Ascot is being redeveloped.

The two-mile handicap chase, worth £110,000, joins the Saturday, January 29 card on Pillar Property day at Cheltenham.

The addition of the Victor Chandler Chase, founded in 1989 when the great Desert Orchid was successful, will boost prize money on January 29 to £385,000, with the other feature races on the day being the £80,000 Pillar Property Chase, the £60,000 Byrne Bros Cleeve Hurdle and the £55,000 Ladbrokes Trophy Chase.

Victor Chandler, head of the sponsoring company, commented: 'We are delighted with the transfer of the race to Cheltenham for the next two years and look forward to entertaining customers there.

'The Victor Chandler Chase takes place six and half weeks before the Cheltenham Festival and therefore makes it an ideal prep race for the Queen Mother Champion Chase. Azertyuiop, the gallant runner-up in this year´s Victor Chandler Chase, went on to win the 2004 Queen Mother Champion Chase.

'The transfer to Cheltenham has been made possible by the good offices of both Pillar Property and Ladbrokes who already sponsor on the day.

'It was vitally important that this Pattern race, which plays such an important part in the jump season, be allowed to continue while Ascot is being redeveloped and our thanks go to Cheltenham and Ascot for achieving this.'

The Victor Chandler Chase will be part of a seven-race card on Saturday, January 29.

Edward Gillespie, Cheltenham Racecourse´s managing director, said: 'The Victor Chandler Chase joining Pillar Property day means that a fabulous fixture has become even better.

'This is a very positive move and we appreciate the co-operation shown by Ascot, the Levy Board and Cheltenham´s current sponsors to stage this important event. We look forward to building interest in this compelling raceday.'

Douglas Erskine-Crum, Ascot´s chief executive, is pleased that the Victor Chandler Chase will take place at Cheltenham in 2005 and 2006.

He declared: 'The Victor Chandler Chase will fit perfectly into Cheltenham´s Pillar Chase card and we´re particularly grateful to Ladbrokes for being so accommodating. The Victor Chandler is one of our premier jump races with a great history so it is entirely appropriate that it should camp at the home of jump racing while we are closed.'