The Jockey Club, the commercial arm of the horse racing industry, has confirmed that Ballymore will sponsor a race at its Cheltenham Festival from March 2018.
The property company will be the title sponsor of the festival’s two-mile, five-furlong novices' hurdle, which has been run under the Neptune Investment Management banner since it was last sponsored by Ballymore in 2010.
The financial terms of the three-year deal were not released.
Sean Mulryan, owner and manager of Ballymore, said: "The ambition has always been to return to the sponsorship if possible and this has now been achieved with the help of Cheltenham racecourse."
The 2017 Neptune Investment Management Novice Hurdle was won by the Ben Pauling-trained Willoughby Court.