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Kempton racecourse is to close in order to facilitate a housing development, the Jockey Club has announced.
The racecourse, which is home to the King George VI Chase, will be sold as part of the Jockey Club's plan to spend at least £500million on British racing over the next ten years.
Providing the Kempton redevelopment is approved, the Jockey Club will build a new floodlit all-weather course at The Links in Newmarket, while the King George will be permanently transferred to Sandown.
Plans for Kempton stem from the local council's recent 'Call To Sites' for land to address the need for housing in the locality but the Jockey Club has said that plans are dependant on the redevelopment generating in excess of £100million investment and the new all-weather circuit getting the green light.
Kempton will continue to race until 2021 at the earliest.
Roger Weatherby, senior steward of the Jockey Club, said: "The Jockey Club is governed by Royal Charter to act for the long-term good of British racing.
"One of the ways we want to live up to that is through a series of projects that offer benefits all around the country and collectively add up to us contributing more than half a billion pounds to the sport over the next decade from its grassroots to top level.
"We must show leadership with the assets we have and, where merited, take tough decisions to help our sport to keep moving forwards. The decision to submit our estate at Kempton Park for consideration in the Local Plan is unique and has not been taken lightly.
"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."
Sandown will be one of the biggest beneficiaries with the King George moving to the track, whole Kempton's other jumps fixture could be spread throughout the country.
"If changes take place at Kempton Park in the future we will act to secure and invest in the jumps programme nationally," Weatherby added.
"We will work with the British Horseracing Authority to seek to run some races, including the King George VI Chase, at Sandown Park. We plan to transform Sandown Park's facilities, utilise the latest advances in track technology and help bring a focus on it as London's premier dual-code racecourse right on the doorstep of millions of people, unlocking what we see as its great potential.
"Furthermore we will look to boost jump racing from its grassroots to the top-end in consultation with horsemen and the wider industry.
"This would include Kempton Park's programme being transferred to our jumps courses around the country and through investments at each track over the next decade - in all four of our regions, in the North, South West, East as well as London."
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