Leger reveals a cash crisis

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The Independent Online
Sponsorship problems for Classic races worsened at the weekend when Doncaster racecourse said it was having difficulty tracing the firm which agreed to back last year's St Leger. No money had been handed over.

The track's management announced it was terminating the sponsorship deal with TeleConnection Cellular. The company, which agreed a pounds 425,000 three- year Leger sponsorship two years ago, has run into financial difficulties.

It was reported yesterday that the firm has abandoned its London base, leaving no forwarding address. The principal shareholder, Godfrey Anderson, is the subject of a bankruptcy petition due to be heard in court on 13 September - the week after the Leger.

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