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Paul Nicholls believes it will be "even stevens" when Kauto Star and Long Run clash in the Betfred Gold Cup at Cheltenham on March 16.

The champion trainer has remarkably brought Kauto Star back to peak form this season during which he has beaten the defending Cheltenham champion in the Betfair Chase and William Hill King George VI Chase.

However he is under no illusion about the size of the task he faces next month, telling the Racing UK podcast: "If Kauto was four years younger, then he would be favourite, but I suppose people think Long Run will be better suited to Cheltenham and he is the champion after all.

"Without a doubt, Kauto is better than last season, and it is difficult to know whether Long Run has improved since last year, so it should bring them closer together.

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Ladbrokes have agreed with Doncaster to sponsor the St Leger for another three years.

The bookmaker will be taking their association with the world's oldest Classic up to a decade and have helped to raise the value of the 2012 total prize fund to a record £550,000.

Mike Dillon, director of media affairs at Ladbrokes, said: "We have worked closely with Arena and Doncaster to re-build the reputation of this great race