That will be alongside the established support of the Betfair Cup, registered as the Lennox Stakes, the Betfair Molecomb Stakes and the Betfair Gordon Stakes on the same day.

The prize money for these four races in 2009 will total £310,000.

Betfair put up the naming rights of the opening race in a charity auction at the recent Pride of Racing Awards. Andy Stewart, of Cenkos fame, was the successful bidder and will now be able to choose the race title.

As part of the agreement, Timeform, part of the Betfair Group, will be producing Goodwood's official racecards from the start of the 2009 season. Timeform has enjoyed a successful similar partnership with Haydock Park for the last three years.

Timeform Radio, launched last month, was trialled during Glorious Goodwood this season and will return to the Sussex venue for live broadcasts from the showcase days in 2009.

Timeform's Communications and Commercial Manager, Kieran Packman, said: "Our team have demonstrated with the excellent Haydock Park racecards that we can produce a consistently high-quality product and we look forward to working with Goodwood to make their racecard as informative and entertaining as possible."

Rod Fabricius, Managing Director of Goodwood, said: "We are delighted that Betfair have extended their sponsorship and very much appreciate their commitment to Goodwood.

"We very much look forward to working with Timeform to produce our racecards in future and would also like to take this opportunity to thank Weatherbys for their excellent support over the years."