Qatar Racing & Equestrian Club has announced it will continue to sponsor the Glorious Goodwood Festival until 2024.

Al Shaqab Racing founder Sheikh Joaan Al Thani agreed to a 10-year deal back in 2014 but insisted on including a five-year break clause, causing speculation on whether Qatar Racing would end its sponsorship deal early.

After a meeting between Goodwood owner, the Duke of Richmond, and QREC Chairman, Issa bin Mohammed Al-Mohannadi, an agreement was made to continue the landmark partnership.

The sponsorship is the biggest deal in British racing history, with millions of pounds being invested, helping increase overall prize money for a number of races during the festival.

The Group 1 Qatar Sussex Stakes, which was won by Qatar Racing’s Lightning Spear last year, offers a total of £1m ($1.3m) in prize money.

Al-Mohannadi said: "The outcome of this sponsorship has benefited Qatar and Qatar’s equestrian sport in particular because it promoted the name of Qatar in such international gatherings.

"It has also helped foster our relations and cooperation with horse organisations in the UK."