The club hopes to fund its ambitious investment plans in a number of the UK’s most well-known racecourses through the redevelopment of its estate at Kempton Park.

The racecourse has been submitted for consideration as part of Spelthorne Borough Council’s recent ‘Call for Sites’ – in partnership with Redrow PLC – to address local housing needs and a decision to undertake a review of its green belt boundaries.

This move could provide a once-in-a-generation opportunity to promote the site for new homes and local benefits, while preserving green space between the local borough and London.

The Jockey Club said it carefully considered the Kempton Park decision, but believes it is in the best long-term interests of British racing, with Surrey already well-served for racing.

If the development goes ahead, the Jockey Club will be looking to ensure it generates in excess of £100m for investment in British racing.

“The decision to submit our estate at Kempton Park for consideration in the local plan is unique and has not been taken lightly,” said Roger Weatherby, senior steward of the Jockey Club.

“Our board of stewards are horsemen and, having carefully considered what we can achieve in the long-run from doing so, are unanimously of the view that British racing is better served by us doing so.

“Horsemen and customers alike will enjoy the benefit of numerous projects nationwide that result from the record investment proposals we unveil today, which include investments at each of our racecourses and training grounds throughout the country.”

Any changes at Kempton Park are conditional on a successful planning process and it’s anticipated that any future development on racecourse land would be from 2021 at the earliest.

The Jockey Club also revealed that it would be investing into Sandown Park, and in a new floodlit, all-weather racecourse.