Betfred to end sponsorship of British Classics after tax hike

Betfred ditch Derby sponsorship and blame Healey Budget tax hikes

Betfred have pulled out of sponsoring the Derby, citing Chancellor John Healey’s tax hikes at last month’s Budget. The gambling firm signed a deal, in two parts, to sponsor five major racing meets in the United Kingdom known as the British Classics. Feature races include the Derby and Oaks at Epsom, the St Leger – [...]

Betfred ends sponsorship of all five British Classics because of Budget

The bookmaker said it has “no choice” but to end its backing following the tax rise

Betfred to end sponsorship of British Classics after tax hike

Finance minister John Healey raised machine games duty (MGD) to 25 percent from 20 percent, though he did not increase it to the 40 percent some had feared. Betfred said more than 1,000 jobs were at risk in its shops alone. Chairman and co-founder Fred Done had intimated prior to the announcement that the company would end its deal to back both the 1,000 and 2,000 Guineas at Newmarket, the Derby and Oaks at Epsom and the St Leger at Doncaster if…

Betfred ends sponsorship of British classics including St Leger after Budget

The move comes after tax increases announced in the Budget

Betfred Ends British Classic Sponsorship Citing Budget Tax Increases

Betfred says it had “no choice” but to end its sponsorship of all five British Classics following the latest tax increase announced in the Budget. Chairman and co-founder Fred Done had intimated prior to the announcement that they would end their deal to back both the 1000 and 2000 Guineas at Newmarket, the Derby and The post Betfred Ends British Classic Sponsorship Citing Budget Tax Increases appeared first on TDN | Thoroughbred Daily News | Ho…