East Lothian Council has a joint Lib Dem/SNP administration. They appear to have enough spare money to sponsor a horse race.
This link to Sporting Life offers the results of the 15.40 East Lothan Council Handicap at Musselburgh yesterday. I will email the Council to ask how much this sponsorship cost and what corporate hospitality was provided in return. Deadly Encounter came last in the race. But the real losers would seem to be the Council Taxpayers of East Lothian.