A global champion for economic growth in Abu Dhabi Read more about Mubadala Investment Company
IPIC Signs Pillar Partner Agreement with Meydan Group
Abu Dhabi. February 2nd: The International Petroleum Investment Company (IPIC), and the Meydan Group, have forged a two-year strategic agreement that places IPIC as a Meydan Pillar Partner and Race Sponsor of the Al Quoz Sprint in the Dubai World Cup. The deal will see IPIC sponsoring the Dubai World Cup Carnival meeting on February 6th and the Racing at Meydan meeting on March 13th. In addition, IPIC will sponsor the CISM World Millitary Endurance Championship, an event organised by the Dubai Equestrian Club, to be held in Dubai on March 6th.
“IPIC’s portfolio of companies span the globe,” said Khadem Al Qubaisi, Managing Director of IPIC, “whilst locally, IPIC is a strong supporter of Emirati culture, tradition and heritage. The Meydan events provide a great platform for IPIC to support and develop local interest in equestrian events as well as reaching a global audience through the Dubai World Cup.”
Saeed H. Al Tayer, CEO and Chairman of Meydan Group said: “We are extremely pleased to welcome the International Petroleum Investment Company to our impressive list of Pillar Partners for the Meydan Group, and Dubai World Cup race night. This is a wonderful partnership that further represents the appeal of the Dubai World Cup and horse racing here in the UAE and around the world.”
The Al Quoz Sprint is a highly-regarded Group 1 Thoroughbred turf contest held on Dubai World Cup day. First staged in 2007 as part of the Dubai International Racing Carnival, it was given Group 3 status in 2009. The Al Quoz Sprint was moved to Dubai World Cup day in 2010 to coincide with the opening of Meydan Racecourse and in 2012 was promoted to a Group 1 event. The US$1million race was first run over 1200m, and in 2011, was shortened to a 1000m (5 furlong) contest. Last year’s winner was the Mike de Kock-trained Shea Shea.
His Excellency Khadem Abdulla Al Qubaisi, Managing Director of IPIC, spoke about the sponsorship deal with Meydan.
What are the basics of the sponsorship deal with Meydan in terms of what IPIC gets?
IPIC is a pillar partner of Meydan and the sponsor of the Al Quoz Sprint at the Dubai World Cup. Our deal is initially for two years.
What was the driving force for the deal?
The decision was two-fold. IPIC is a strong supporter of Emirati culture, tradition, and heritage. The Arabian horse is part of the UAE's heritage and there is a long tradition for horse racing. Meydan invests heavily in supporting and developing interest in local equestrian events. Plus, The Dubai World Cup is the most significant domestic UAE sporting event on the calendar, with a global TV audience. IPIC has a portfolio of companies that span the globe. Hence, it is easy to see why sponsoring Meydan satisfies IPIC's ambitions on a variety of levels
How does this sit with IPIC’s sport portfolio?
IPIC's company motto is 'Empowering Our Future' and we are a firm believer that there are dozens of future sporting heroes amongst the UAE population. Our responsibility is to support the various sporting events and federations in the UAE so that they can empower athletes to compete at a national and international level.
What UAE sports do you intend to support in the future?
IPIC and IPIC group companies are already proud sponsors of football (Al Jazira FC and Manchester City FC), F1, Judo, Jiujitsu, freestyle jetski, and a number of other sports at an international and national competitive level. Our future plans aim to deepen and broaden our commitment to sport, especially at the community level.
How important is sport to the development of the country? How important to UAE nationals in particular?
In any country, particularly at the community level, sport is an inherent component of a healthy society. The Government of Abu Dhabi owns IPIC, hence we have a moral obligation to contribute to the future welfare of the community. One such way is to encourage Emiratis to become excited and engaged in sport, both as spectators and participants. IPIC's long-term community strategy is to help Abu Government institutions to make sport a cornerstone of every child's upbringing in the UAE.