De Beers, sponsors of the King George for 25 years, have increased their backing of the Ascot race by pounds 20,000 to pounds 360,000. The additional support of the racecourse will ensure that it joins the Derby in a club of two as British races with pounds 1/2m in prize-money.
Europe's two top middle-distance races for horses of all ages, the King George VI and Queen Elizabeth Stakes and the Prix de l'Arc de Triomphe, have had contrasting fortunes with sponsors this week. The Longchamp race will be in need of a new sponsor next year because of Granada's takeover of Forte, who have backed the race for the last two years. Granada are obliged to continue the sponsorship of this year's race, but will not continue thereafter.