Jersey Race Club is now in a 'good financial position' after securing a major three-year sponsorship deal, according to honorary president Bunny Roberts.
The agreement will see digital investment firm CoinShares sponsor the Jersey Derby and the racecourse rebranded as the CoinShares Les Landes Racecourse.
All nine club meetings last year were cancelled because of the coronavirus pandemic leaving the future of the sport in Jersey in doubt.
Mrs Roberts said more than £100,000 had been raised since a fundraising effort was launched by the club's committee in August, including more than £7,500 of crowdfunding.
She said the club was in consultation with the island's government about the 2021 season with the outlook for racing "looking brighter".