Lexus to replace Emirates as Melbourne Cup title sponsor
Lexus, the Japanese car maker, is set to be named as the new title sponsor of horse racing’s Melbourne Cup.
The Victoria Racing Club, organiser of the race, is expected to unveil Lexus as the event’s new naming rights sponsor tomorrow, according to reports in Australia.
Lexus will replace Emirates, the Dubai-based international airline that is one of the most prominent sponsors in world sport and which has backed the event since 2005.
Boutros Boutros, Emirates’ head of worldwide sponsorship, told The Australian: “They sent us a proposal, we didn’t like it. It wasn’t financially suitable for us.”
It is claimed that, along with title sponsorship of the Melbourne Cup, Lexus will receive prominent signage at Flemington racecourse, prominent positioning on the VRC’s letterhead and prime position for its marquee in the ‘Birdcage’ during the spring racing carnival.
In March last year, it was revealed that Emirates would not be renewing its deal following its one-year option for the 2017 Melbourne Cup, for which it is thought to be paying A$4 million ($3.1 million).
The airline replaced Toohey’s New, a brand of brewing company Lion Nathan, as the title sponsor of the Melbourne Cup in an initial seven-year deal.