Hennessy has confirmed that it will no longer sponsor the Newbury race which bears its name and which has become such a familiar landmark in each jumps season. The 60th Hennessy Gold Cup, won by Native River just 10 days ago, will be the last, as was widely predicted, bringing to an end one of the longest running sponsorships in all of sport.

Speculation continues to centre on Ladbrokes as the expected successor sponsor for the race, a handicap chase over 3¼ miles. That would be a controversial deal, since Ladbrokes is not an authorised betting partner under the terms of racing’s year-old policy and racecourses are not supposed to sign new deals with non-ABP firms.

Newbury, however, is one of several major tracks that has not committed to the ABP policy. Ladbrokes recently merged with Coral but the expectation is that the race will carry only the Ladbrokes name. Course officials confined themselves to saying: “Once there is any further significant news regarding sponsorship at this race meeting, Newbury racecourse will issue another news release.”

The Hennessy, which offered total prize money of almost £200,000 this year, was founded in 1957 and staged at Cheltenham until 1960. The inaugural running was won by Mandarin, owned by a member of the Hennessy family.

Arkle won the race twice, despite being burdened with 12st 7lb on each occasion, while Burrough Hill Lad and Denman have also achieved notable weight-carrying successes in the race. One Man, Teeton Mill and Bobs Worth all won the Hennessy on their way to greater glory in the King George or the Cheltenham Gold Cup. Many Clouds became the first horse to win both the Hennessy and the Grand National in the 2014‑15 season.

Jo Thornton, managing director of Moet Hennessy, said: “We are enormously grateful to the directors and team at Newbury racecourse, who have always delivered racing of the highest quality, at one of the UK’s most iconic racecourses. Hennessy are proud to have worked with Newbury in creating such an important and enjoyable day in the racing calendar. We wish them every continued success.”

Dominic Burke, Newbury’s chairman, expressed reciprocal thanks, saying: “Everything comes to an end at some point and it is fitting that the sponsorship is drawing to a close after such a thrilling race to mark the 60th Hennessy Gold Cup.”