No sponsorship crisis in racing, says Gillespie

Cheltenham supremo Edward Gillespie poured cold water on the prediction from Racecourse Association chairman David Thorpe that sponsorship could fall by 40% in 2009.

The track's chief executive said he was "wary" of such figures, and believes the home of National Hunt racing is standing up well against the turbulent economic situation.

He said: "I don't recognise the figure from David Thorpe on a potential drop and I am wary of people putting out those figures.

"I have been very pleased with the way we have been supported by sponsors, both long-term supporters and new ones coming such as William Hill."

Gillespie was also pleased with the way ticket sales are holding up ahead of next month's meeting.

"We have normally sold around 230,000 tickets for the four days by the time the meeting starts and I am anticipating that figure being over 200,000 this year.

"That is good in the current situation and tickets will be available on the day.

"I think we are still on track for 230,000, and even if we are within 10% of that it shows in the current climate the determination people have to be part of this year's Festival.

"We aren't expecting as many people from Ireland this year and the Irish numbers could be down 10%."

He added that the tolerance of the temporary structures has been increased to withstand winds of 50mph after the Wednesday of last year's meeting was lost due to severe gales.