TOTE Ireland are to take over as the new sponsor of one of Ireland’s most historic races, the Galway Plate. The three year sponsorship deal will commence for the 2010 summer festival.

Under the agreement, the entire eight race programme on Galway Plate Day will now be sponsored by Tote Ireland, but the value of what will still be the richest steeplechase on the summer racing calendar has dropped by €50,000 to €200,000.

The race will now be called the www.thetote.com Galway Plate, promoting Tote Ireland’s online Irish and UK Tote pool betting website.

In welcoming the announcement, Tim Naughton, Chairman of the Galway Race Committee said: “We are delighted that Tote Ireland has agreed to sponsor Galway Plate Day at the Summer festival meeting for the next three years. Tote Ireland has been sponsoring in Galway for the past number of years and their decision to sponsor the world famous Galway Plate is welcome news to all of us.

“Galway Race Committee and Tote Ireland have worked closely together for the last number of years and the record Tote turnover for a day of €2.1 million was achieved in Galway on Thursday, 2nd August, 2007. We look forward to a successful sponsorship with Tote Ireland with increased Tote turnover at Galway in 2010.”

Commenting on the announcement, Alexis Murphy, Chief Executive of Tote Ireland said: “Galway is the highlight of the racing season for the Tote with record pools typically set during the meeting. I would also like to thank all of our clients for their continued patronage of the Tote.

“All of the Tote’s profits are reinvested into Irish racing and it is thanks to the loyal support of our clients that the Tote can make a significant contribution to the industry in these challenging times.”

Tote Ireland have taken over the sponsorship of the Galway Plate from UK betting chain, William Hill, which decided against extending its backing of the traditional Wednesday highlight of the summer festival.