A FIVE-YEAR sponsorship deal has been concluded for two of Haydock Park Racecourse's most famous races.

Betfred, the world's biggest independent bookmaker which was founded in the North West almost 40 years ago, will sponsor the Grade 1 Sprint Cup and the Swinton Handicap Hurdle until 2010.

The length of the deal has immediately allowed the racecourse to increase prize-money for its major flat race substantially, ensuring that Haydock Park in early September remains the destination for the best equine sprinters in Europe.

The total prize fund for the Betfred Sprint Cup goes from £225,000 last year to £300,000 an increase of exactly one third when it is run in September.

Prize-money for the two-mile Betfred Swinton Handicap Hurdle goes up from £70,000 to £75,000 at Haydock Park's mixed meeting at the start of May.

As part of the entire deal, Betfred has also taken over the racecourse's betting shop which changed hands to William Hill after its acquisition of Stanley Racing last year.

Fred Done, the chairman and founder of Betfred, will formally open the extensively refurbished betting shop at Haydock Park's on Saturday, May 6.

Adam Waterworth, Haydock Park Racecourse's managing director, said: "We are thrilled to have concluded this five-year agreement with Betfred, especially with the company's association with horse racing and betting in the North West.

"The length of the deal offers us continuity, and allows us to make a substantial commitment to prize-money. This means the Betfred Sprint Cup will remain the six-furlong championship of Europe'.

"We are also delighted that one of the racecourse's most high profile National Hunt races is included in the deal. The Betfred Swinton Handicap Hurdle is a hugely popular race, and is the first major jumps race of every season."

Fred Done said: "Haydock Park's betting shop is an excellent asset and a prestigious outlet for our business.

"We are delighted to be sponsoring the North West's most famous Grade 1 Flat race, and our support for the Swinton Handicap Hurdle means that alongside the Betfred Gold Cup at Sandown Park we are sponsoring the first and last major races of the jump racing season."

Betfred is in the midst of a five-year £70 million expansion and will have more than 800 betting shops in Britain by next year. It is also to be the official bookmaker at the new Wembley Stadium.