Pinsent Masons and Hill Dickinson have advised on a deal which has seen alcoholic ginger beer maker Crabbie's become the new sponsor of the Grand National.

The deal, which spans three years, will see the race will offer £1m in prize money for the first time.

The agreement will come into effect next year. Crabbie's is replacing brewing company John Smith, which has sponsored the famous horse race since 2005.

Pinsents advised race organiser The Jockey Club with a team led by sports partner James Earl, alongside head of sport Trevor Watkins, the relationship partner. Hill Dickinson advised Crabbie's owner Halewood International, with corporate partner Sue Russell leading the firm's team.

Earl said: "Major sponsorship deals are the core foundation of our sports practice, and the Grand National is a true crown jewel event. The partnership between The Jockey Club and Halewood International, through its Crabbie's brand, is very exciting, not least as it is a further major investment in British racing by a mainstream sponsor brand, something The Jockey Club is leading the way in.

"We are very proud of our longstanding relationship with The Jockey Club and it gave us great pleasure to help deliver on a marquee sponsorship deal for them which should turn a lot of heads."

Watkins and Earl joined Pinsents from Clarke Willmott in 2011. Earl has led on Jockey Club sponsorship negotiations and deals including the Investec Derby Festival and the Coral Eclipse.

Pinsents' sports practice also advises QIPCO, which sponsors horseracing's British Champions Series.

Jockey Club Racecourses group managing director Paul Fisher added: "I don't think there is a brand out there with a closer connection to the racecourse, Grand National and community than Crabbie's parent company, Halewood International, owners of the Ginger McCain-trained Amberleigh House who won the great race in 2004.