SUPREME Ventures Limited (SVL) yesterday announced their participation as title sponsors for the upcoming Diamond Mile with a commitment of $5 million to the prestigious Thoroughbred racing event.

The Diamond Mile Race Day is set for December 5, with the main feature being the inaugural running of the SVL Diamond Mile Race for a record purse of a whopping $13.5 million for native-bred and imported three-year-olds and upward venturing over 1,600 metres or one mile. The remaining races on the day will each carry purses of $1 million and over.

The entries for the Diamond Mile will close tomorrow in the Racing Office at Caymanas Park.

Speaking at the press conference at the Jamaica Pegasus Hotel, Paul Hoo, chairman of SVL, said sponsoring the event was never in doubt.

“We certainly share the view of Gary Peart that an event of this nature will help generate more revenue for Caymanas Track Limited (CTL) and ultimately, it will help the owners, breeders, trainers, jockeys, grooms and all stakeholders of Caymanas Park,” he said.

“As one of the companies bidding for the operations of CTL, our vision is to return horse racing to its former glory, with prestigious events that bring out the attendance of patrons, engender the interest of sponsors to come on board throughout the year and make the track one that all stakeholders can be proud of,” the chairman said.

Gary Peart, chairman of the Betting, Gaming and Lotteries Commission (BG&LC), applauded SVL for coming on board to sponsor the Diamond Mile.

“I must congratulate SVL for coming on board to sponsor the Diamond Mile Race Day, as their input will help to stimulate the growth of the racing industry. We look forward with great anticipation to the Diamond Mile Race Day and with SVL on board, we know that it will be very successful,” Peart said.

Christopher Brown, chairman for CTL, also welcomed the sponsorship from SVL.

“SVL has maintained their number one position as being the single largest sponsor of Thoroughbred Racing in Jamaica for over a decade with four major race days, the Lotto Classic, the Two-Year-Old Triple Crown Series, and have now raised the bar with the addition of the ultra-rich Diamond Mile, which boasts the single largest purse of any race, $13.5 million,” he said.