Racing pundit John McCririck has lost his age discrimination employment tribunal case against Channel 4.
The 73-year-old argued that he was sacked by the broadcaster because of his age.
McCririck said he was dumped from his high-profile role on Channel 4 Racing by "anonymous suits and skirts" as part of a drive to hire younger faces.
But a Central London Employment Tribunal panel ruled against him, McCririck told the Press Association.
The pundit, famed for his deerstalker, tic-tac gestures and gold jewellery, took his former employer and TV production company IMG Media Limited to the tribunal, alleging his sacking last year was motivated by age discrimination.
Both firms denied discrimination in the £3 million case.
McCririck said: "This is an historic setback for all employees in their 30s to their 70s.
"After such a landmark judicial verdict, my failed legal action ensures that anonymous suits and skirts, who control the media, numerous other businesses and the public sector, will now enjoy complete freedom to replace older employees whatever their unimpaired ability and merit.
"I have let them all down along with my wife, the Booby, my legal team, friends, colleagues and countless members of the public who supported me throughout. My grateful thanks and apologies to every one of them.
"With my legal team we are now out of contact while studying the judgment in detail. It is on the Central London Employment Tribunal website."