Paddy Power has been announced as the new sponsor of the Stayers' Hurdle at the Cheltenham Festival.
The three-mile contest is one of two Grade One championship races on day three of the showpiece meeting in the Cotswolds alongside the Ryanair Chase - and carries a total prize fund of £325,000.
Ahead of his run in Saturday's Cleeve Hurdle at Cheltenham, Paisley Park is the current 5/4 favourite to successfully defend his Stayers' Hurdle crown on March 12 with the new sponsor.
Emma Lavelle's stable star will be aiming to join a list of multiple winners that includes four-timer scorer Big Buck's (2009, 2010, 2011 and 2012) and triple victor Inglis Drever (2005, 2007 and 2008).
Paul Mallon, head of brand marketing for horse racing at Paddy Power, said: "As fans, we have long thought of the Stayers' Hurdle as one of the most compelling Cheltenham Festival races.
"Big Bucks, Baracouda, Inglis Drever, Paisley Park - winners of this race become legends."
Carey Weeks, regional head of partnerships for Jockey Club Racecourses South West, added: "Paddy Power has a long association with Cheltenham Racecourse and it is fantastic that its first race sponsorship at the Festival will be in one of the Grade One championship races, the Stayers' Hurdle."
