Car retailer Cazoo unveiled as headline Derby festival sponsor

Online car retailer Cazoo has signed an agreement with the Jockey Club to become the new headline sponsor of Epsom's Derby festival.

The multi-year partnership includes naming rights for eight races during the two-day meeting, which begins on June 4 and will feature two Classics – the Group 1 Cazoo Oaks and Cazoo Derby.

Investec sponsored the meeting between 2009 and 2020, with the agreement set to run until 2026, but the company announced in July it was ending its backing. The Derby has previously been sponsored by Vodafone (1995-2008) and Ever Ready (1984-1994).

"Cazoo is a highly ambitious and successful growth brand that matches our ambitions for the future of the world's most famous Flat race," said Nevin Truesdale, chief executive of the Jockey Club.

Serpentine: winner of last year's DerbyCredit: Edward Whitaker

"You cannot overstate the importance of the Cazoo Derby to our sport globally and it’s vital we work with a partner passionate about bringing that to life. I’m delighted to welcome the Cazoo team to the Jockey Club and horseracing as a sport."

Cazoo is heavily involved in sport as sponsor of Premier League clubs Aston Villa and Everton, the English Football League (EFL), cricket's newest format The Hundred, the 2021 Rugby League World Cup and multiple snooker events – including the Players Championship.

The company, founded in 2018, recently merged with acquisition company Ajax and this week was floated on the New York Stock Exchange, with the business valued at $7 billion (£5bn).

Its chief financial officer, Stephen Morana, was a senior independent director at Entain and spent six years on the board at Betfair.

The Jockey Club and Arena Racing Company lost major sponsorship deals last year amid the coronavirus pandemic.

Pertemps returned to sponsor last year's St Leger at Doncaster with the option to continue from 2021 onwards after William Hill ended their three-year association with Britain's oldest Classic last February.

The Cheltenham Festival also lost its title sponsor when Magners announced it was cancelling the final year of its deal in December, leading to the meeting partnering with children's charity WellChild.

Read more on this topic:

Shock for Epsom: Investec exits as Derby sponsor and hunt starts for new backer

New sponsor at Cheltenham as engineering firm steps in to back County Hurdle

Place bets with seven bookmakers without leaving the free Racing Post app. Same prices, same offers, live video. Every race, every day. Search 'Racing Post App' to download for free