The Ladbrokes Trophy will become the Coral Gold Cup in a three-year sponsorship deal between the bookmaker and Newbury racecourse.

A contest known for almost 60 years as the Hennessy Gold Cup, the roll of honour features the likes of Denman, Bobs Worth, Native River and Many Clouds in recent years, with last year’s victor the Venetia Williams-trained Cloudy Glen.

The sponsorship will see Coral back 13 races across the two-day meeting, this year held on November 25 and 26, with the Coral Gold Cup worth £250,000 and a new perpetual trophy created for the winning owner.

Simon Clare, Coral PR director, said: “We are delighted that Coral is to become the official title sponsor of the Coral Gold Cup Meeting, which is one of the most prestigious and anticipated events this side of Christmas and signals the start of the festive season.

“Coral is the most committed, long-standing sponsor in British racing and in launching this exciting new partnership with Newbury Racecourse, we are strengthening our association with the sport through a race and race meeting which is steeped in history.

“Our ambition is for Coral to set a new high bar for the way we activate and bring to life our racing sponsorships to racegoers at the event and our customers at home while telling the story and narrative of what goes into winning these incredibly historic races and we will be looking to create a range of content in the build-up which brings our customers and fans closer to the action.”

Julian Thick, chief executive of Newbury, added: “This is an exciting multi-year partnership for Newbury with Coral, a long-established and respected name in the horse racing world.

“We have enjoyed a great relationship with the Entain team for the last five years and look forward to working with them on the next phase of this partnership to make the Coral Gold Cup meeting bigger and better over the coming years.”