Investec is to sponsor the Derby Festival at Epsom racecourse for the next 10 years.

Earlier this week it was announced that the company – a specialist bank and asset manager – is to extend its contract and will sponsor the event until 2021.

The extension, agreed in the fourth year of the original five year contract, means the Investec Derby will be reinstated as the richest race in the UK offering a prize fund of £1,325,000 in 2012.

It is the biggest sponsorship deal in British racing history.

“We are delighted that Investec have agreed to extend their sponsorship for a further 10 years,” Rupert Trevelyan of Epsom Downs racecourse said.

“They are a fantastic brand to work with, very forward thinking and proactive, and we will continue to work in collaboration with them to develop the Investec Derby Festival.

“The recently announced prize money increases were a direct consequence of Investec’s intention to strengthen their relationship with Epsom and the Derby Festival. In March we announced an increase of £25,000 to £350,000 for the Investec Oaks, a £50,000 increase to £300,000 for the Diamond Jubilee Coronation Cup (sponsored by Investec), and an increase to £50,000 for the Investec Derby Trial.”

The new agreement also means Investec will continue its sponsorship of the Investec Spring Meeting.

The Derby Festival this year runs Friday 1 and Saturday 2 June.

For more information visit: www.epsomderby.co.uk