A top Essex music festival has lost its main sponsor after 22 years.

Sir Richard Branson has announced Virgin will no longer sponsor V Festival, which takes place in August at Hylands Park, Chelmsford, and simultaneously at Weston Park in Staffordshire.

He said this year’s festival was Virgin’s last.

• Highlights of day one of V Festival 2017 at ChelmsfordHowever, the festival will continue, with another company expected to take Virgin’s role.

In a statement on the Virgin website, Sir Richard said: “V Festival has always been a special weekend for everyone at Virgin.

“We’ve been proud to sponsor V Festival for the past two decades and there have been some incredible performances on the stage.

“Now, after 22 very enjoyable and successful years, 2017 was Virgin’s last V Festival.

“Being part of V Festival has been an honour and there are some amazing moments that will stay with me forever – including introducing Paul Weller and welcoming V2 Records’ first signing The Stereophonics to a massive audience.

“Working on V Festival has been a brilliant journey filled with great people, fun times and exceptional music.

“We wish Live Nation every success with their future plans. We would like to thank them for a brilliant partnership over recent years.”

A message posted on the festival’s Twitter page said the event would carry on during the usual weekend in August, with a new name.

The tweet said: “Thanks for being a great sponsor @Virgin.

“The name of the new festival that continues on the same weekend in 2018 will be announced soon.”

V Festival was launched in 1996 and has featured some of the world’s biggest stars, including Justin Bieber, Rihanna and Jay Z.