Grand National loses sponsor

Monty's Pass won the 2003 Grand National

Martell has announced it will end its sponsorship of the Grand National after next year's race.

The company, which has spent over £1m a year backing the world's most famous steeplechase since 1992, will not renew its deal which runs out in 2004.

Lionel Breton, President of Martell Cognac, said: "It was a hard decision, but our priorities have changed.

"But we will support the 2004 event as strongly as ever and look forward to a memorable finale to our sponsorship."

Breton added: "We would like to record our gratitude to Aintree Racecourse for being such willing partners throughout our 13 years of sponsorship.

Friday's racing bulletin

"Given our relationship, we were determined to make a firm decision in good time to allow them to find a suitable new sponsor for 2005 onwards."

The Grand National has been an outstanding sponsorship so it was a hard decision to make Lionel Breton, President of Martell Cognac

Charles Barnett, Managing Director of Aintree Racecourse expressed his thanks to Martell for helping "to transform the event" and increase attendances from 87,000 to 140,000 since 1992.

But he gave no indication as to who might replace Martell.

"We are in the process of finalising our sponsorship strategy to ensure the event remains one of the 'Crown Jewels' in the worldwide sporting calendar," he said.

The news comes at a difficult time for jump racing, as the sport is experiencing difficulties following a critical report by the Office of Fair Trading.

And with a ruling whether jump racing breaches anti-competition laws yet to be made, there is a feeling of uncertainty in the sport.

Jump racing has also been hit by the popularity of racing on all-weather tracks.