Saturday's John Smith's Cup to be the most valuable so far

The world's longest Flat racing sponsorship is set to get not only longer but also more valuable following the announcement that York's John Smith's Cup will on Saturday be worth £200,000 and be followed by at least three further runnings.

York and Heineken have signed a new deal taking the company's backing of Britain's richest middle-distance handicap – for much of its life known as the Magnet Cup – until 2019, when the sponsorship will reach its 60th anniversary.

Last year's John Smith's Cup, won by Master Carpenter, was run for £150,000 but, mirroring wider growth in prize-money at York, the ten-furlong contest will now increase in value by a third.