Awards brew sponsor deal

ORGANISERS of Britain's most famous comedy prize were celebrating today after securing a new sponsor.

The former Perrier awards, which for 25 years has recognised the best comedian at the Edinburgh Festival Fringe, will now be backed by Australian drinks giant Foster's in a reported 150,000 deal.

Perrier pulled out the awards in 2005, but a new deal with banking firm Intelligent Finance lasted just three years before the global financial crisis led to the arrangement being cancelled.

Efforts to attract a new backer drew a blank last year.

A source said: "It's fair to say the event would have been in serious doubt if a major sponsor hadn't come on board this year."