The betting chain Ladbrokes have no immediate plans to sponsor a race in Ireland following the news of their withdrawal from the sponsorship of the Ladbroke.

Ireland's richest handicap hurdle has been run at Leopardstown in early January since 1987 and is usually a big betting race. However, this year it attracted just 14 runners and Ladbrokes criticised the level of support for the event.

The Ladbrokes spokesman Mike Dillon said yesterday: "The raison d'etre of the race was to provide a good quality, competitive handicap but the alarm bells started ringing when I saw the entries and I couldn't even bet the first four in the richest handicap in Ireland "Frankly it wasn't good enough and it wasn't a situation I was prepared to allow continue. The effort we were putting into the race wasn't being justified by the support in return."

He also poured cold water on suggestions that the Ladbrokes decision was a reaction to the betting shop franchise at Leopardstown being given to Paddy Power.

"I can understand why people might think that but the two are two totally separate ventures. We were sponsoring in Ireland long before there was betting shop at the track," Dillon said before expressing huge surprise at why this year's race attracted so few runners.