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The axe falls on the meeting in amidst difficult times for racing and it was only last year that the firm ended their support for the Irish Guineas meeting. The news also comes just days after Stan James ended their sponsorship of the Newmarket Guineas meeting.
However, Cheltenham spokesman Andy Clifton remains upbeat and explained: "Part of the attraction of Cheltenham is the race values and, while we will not commit financial suicide, we will try to keep those values as high as we can. Some values, however, may be under threat.
"We still have a brand that is aspirational for companies who want to get involved in the sport. It’s our job to find them."
Cheltenham remain on the hunt for a new sponsor of the Champion Hurdle after Smurfit Kappa ended their support of the £370,000 showpiece.