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• Sport
• Horse racing
• British Horseracing Authority

Chelmsford racecourse has been saved after Britain’s largest racecourse group agreed a takeover of the troubled track.

The Essex all-weather venue was shut in March when the BHA refused to issue a new licence after the previous licenceholder went into administration.

It is the second time the track has been closed after first opening as Great Leighs racecourse in 2008 only to cease racing a year later. It reopened as Chelmsford City racecourse in 2015 but ran into financial difficulties earlier this year which the operators hoped could be addressed through a restructure which would avoid any interruption to its racing programme.

However Great Leighs Estates Limited went into administration and BHA rejected an application from new company Golden Mile Racing Limited to operate the track.

On Friday Arena Racing Company, which operates 16 racecourses and five greyhound tracks, announced an agreement had been struck between Arena Racing Company and freeholders Moulsham Hall Estates Ltd and the racecourse.

As result racing is close to resuming at the course with all parties set to enter a period of exclusivity in order to enter into a long term, legally binding, agreement.

ARC chief executive Martin Cruddace said: "Racing at Chelmsford City Racecourse is hugely important to the fixture list and we are therefore delighted to work with the freeholders to reach agreement that will allow racing to return to the venue.

"We are in discussion with BHA with regards to the relevant licences required to resume racing as soon as possible."