Leading Oxford owner Max Picinelli has stepped in to save one of the oldest staying races in the country – the Cesarewitch.

The prestigious event, which originated in 1928, offers a magnificent silver trophy standing almost two feet tall to the winners.

Previous backers William Hill opted out of the race this year and it was touch and go as to whether it could be saved for Oxford Stadium or switched to another track.

Italian businessman Picinelli, who has around 20 dogs with trainer Tony Magnasco, has agreed to sponsor this year’s race and will also continue his backing for the Oxford Maiden Derby.

The plan is to stage both finals in the same week in late August.

Picinelli purchased the impressive former training establishment of the late Gloria Stringer, near Horton cum Studley, which Magnasco now manages, and sends out plenty of winners for his boss.