Channel 4 racing saved by Dubai sponsor

A company owned by the Dubai government is reported to have become Channel 4 Racing's new sponsor in an estimated £4 million deal.

Dubai Holding - which owns the Tussauds Group, Travelodge and the Burj Al Arab hotel - is believed to have agreed a deal with Channel 4 to sponsor 80 days of racing coverage running from January 2008 to the end of 2009.

There had been concerns that unless a new sponsor was found, the broadcaster's coverage of the sport would cease. Previous sponsor Totesport withdrew its support after only one year of a three year deal, after new relaxed gambling laws allowed it to seek out other advertising opportunities.

The Levy Board, the racing and betting industry's statutory body, pledged financial support to Channel 4 for this year and next to ensure continuing coverage of racing on the channel in the interim.