Kempton Park Future in Doubt as New Law Could Accelerate Redevelopment

Figures within the horseracing industry have expressed concerns about the future of Kempton Park Racecourse, after Jockey Club CEO Jim Mullen said the situation is “out of his hands,” with a new law potentially accelerating the process of redevelopment.

In 2017, the Jockey Club, which owns the track in Surrey as part of a portfolio of 15 courses, agreed a partnership with property developer Redrow, as part of a plan to close the racecourse and build 3,000 homes on the site.

However, those plans have not since come to fruition, after facing opposition from the racing industry, Spelthorne Borough Council and the local community.

Discussion about the future of the racecourse resurfaced last week when the Jockey Club revealed investment plans worth tens of millions of pounds for its portfolio, beginning with its racecourses at Aintree and Cheltenham. Despite this, when asked about the future of Kempton, Mullen’s response was:

“It’s out of my hands.”

Reports suggest that even if Redrow were to exercise the option to go ahead with the development plans, it would still have to meet various clauses for the deal to complete. The prospect of the development going ahead may now look more of a reality after the passing of the Planning and Infrastructure Bill, which has been drafted in an attempt to cut delays to property development. The bill became law on Thursday.

Background on Kempton

Kempton is one of the UK’s most iconic racecourses. It held its first race in 1878, and withstood damage incurred in both World Wars, as well as a fire in 1932.

The track runs more than 70 horseracing fixtures a year, and is known as the host of the King George VI Chase, which ran for the first time in 1937 and is held every Boxing Day. Among its other standout fixtures are the Sirenia Stakes in September and the Handicap Chase in February.

Backlash to the plans

British horse trainer Alan King has been one of the more outspoken voices against the plans to redevelop Kempton. King, who has trained 16 winners at the Cheltenham Festival, is quoted as saying:

“It's a disgrace. If we lose Kempton, the Jockey Club should hang its head in shame. It can't happen – it's one of our great tracks in Britain. It will be appalling."

King’s fellow trainer Ben Pauling said:

“I can understand the powers that be exploring avenues, but we as an industry need to do as much as we possibly can to hold on to Kempton. It holds not only a huge amount of history, but it's also one of our best tracks, and we need it.”

Problems persist

Paul Fisher, who was Chief Executive of the Jockey Club from 2010 to 2020 and was a key figure in the agreement with Redrow, has stressed the point that the Jockey Club has a continued need to raise investment from its portfolio.

Fisher said:

“The challenges at the Jockey Club now seem to be the same as they were back then, in that there is a need for capital investment at racecourses. They are big beasts and they suck up money, which I know from the redevelopments at Aintree and Cheltenham that happened during my time there.

“As the Jockey Club is not a PLC, it only really has two options for raising capital: debt, which is what we did for Aintree, Cheltenham and Epsom, or selling assets. With Kempton, there are three racecourses in London and you have a 300-acre site there that’s ripe for development. The Jockey Club has to look at all these options.”