Channel 4 Seek New Sponsor

Channel 4 are hoping to secure a new sponsor for their racing output after the Tote withdrew their support.

The state-owned bookmaker came to the rescue two years ago when they agreed to sponsor the channel's racing coverage and the weekly racing bulletin, The Morning Line.

The deal, struck in June 2005, was originally for one year (2006) and was believed to be worth £5million.

However, the Tote are to pull out after two years because, from September, bookmakers will be able to advertise during the commercial breaks.

Tote chief executive Trevor Beaumont said: 'We've been very happy with our sponsorship of Channel 4 Racing and it has worked extremely well for the brand.

'However, the landscape will change towards the end of the year allowing rival bookmakers to advertise, so it is with regret that we will end our current sponsorship deal.

'We will continue to support Channel 4 Racing by advertising on the Channel and we wish them well in attracting a new sponsor.

'Our support of Channel 4 Racing has been of huge benefit to the racing industry as a whole, including other bookmakers.'

Channel 4's head of sport Andrew Thompson stressed that the company is committed to racing and plan to find a new backer.

He said: 'We'll be putting the sponsorship package to market. We'll be talking to the racing industry and I think it's really important we work with the industry on this.

'As well as providing great entertainment, clearly our broadcasts help the racing industry financially as well.

'That's something they recognise, we recognise and we want to work together to achieve something to ensure we keep racing on telly.

'Racing is part of Channel 4's DNA and it will remain on Channel 4. It's been here for 25 years and I am determined we keep it there.'

(C) PA Sport