The Cheltenham Gold Cup, the showpiece of the March racing festival, will be known as the Magners Cheltenham Gold Cup in a new four-year sponsorship agreement between Irish drinks group C&C and Jockey Club Racecourses.

Magners, the name for Bulmers Irish Cider outside the Republic, will also become the first "presenting partner" of the festival under the deal, which will run until 2022. It replaces technology group Timico as the sponsor of the Gold Cup.

"This sponsorship represents a milestone for us as it is our first major horse racing sponsorship," said C&C Group chief marketing officer Jason Ash.

"In the build-up to the festival each year, a third of the tickets purchased are by Irish attendees, so we're delighted to be working alongside a partner with such a strong Irish heritage," said Ian Renton from Jockey Club Racecourses, which stages the festival.