Bell is suited by City deal

Michael Bell, the Newmarket trainer, has achieved one of the biggest sponsorship coups in racing by securing a two-year deal with a subsidiary of the city merchant bank Kleinwort Benson. "The sums involved are secret," Bell said, "and the vast majority of my owners have joined in. It's a very good deal for all the owners as it frees them from VAT obligations and it's very good for racing."

Kleinwort Benson have no previous involvement with racing. The company's logo will be shown on paddock cloths and lads' jackets. It will not be shown on jockeys' silks or emblazoned above the stable gates.