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The Derby Festival at Epsom Downs racecourse has secured a five-year sponsorship deal with specialist bank Investec.

The meeting had been looking for a new sponsor since its 14-year contract with Vodafone came to an end last year.

The sponsorship announcement follows the last month’s completion of the three-year £38m redevelopment.

The redevelopment includes the construction of a new 120-bedroom Holiday Inn Express on-site hotel, an Entrance Pavilion and the new Duchess’s Stand, which was opened by the Duchess of Cornwall on 22 April.

There will also be a return to a full calendar of 14 race days for 2009.

Managing director of Epsom Downs racecourse, Nick Blofeld said: “We are very excited. There are many ways Investec and Epsom Downs can work together to keep the Derby Festival a hugely successful event but also bring some fresh creativity and reach new audiences.

This year’s Derby Festival takes place on 5-6 June.