The Down Royal race track owners say they will continue racing at the venue after the lease holders revealed they would be looking for a new site, having being unable to secure their future at the current home.
Set on 40 acres, a 20-minute drive south of Belfast, Down Royal race course was bought by a Dublin-based property group Merrion in 2005.
Merrion’s driving force Michael Roden paid £6.1m for almost 200 acres that includes the track and the adjoining Down Royal Golf Club.
The current tenants, Down Royal Corporation Of Horse Breeders, have the lease but it expires on 31 December and it will now be returned to the owners for 2019.
In a statement, the tenants said: "The Corporation would like to thank everyone who has made the racecourse the top class racing and social venue it undoubtedly is.
"The committee, groundstaff, management team, sponsors and contractors have all played a vital part in the delivery of world class race days for all the supporters of Northern Irish racing.
"We are facing new opportunities and there is every likelihood that Down Royal will find a new home.
"Down Royal’s approach was always based on a not-for-profit approach to ensure the racing sector in Northern Ireland which employs between 2,000 and 2,500 people, benefited from raised standards and generous prize money.
"All profits have always been ploughed straight back into the sector. It is essential to the future of the sector that this contribution continues."
However, Merrion then released a statement minutes later, saying they will take on the running of the course.
It read: "We have always stressed our determination to assume the day to day operational management of Down Royal, with horse racing at its centre.
"The withdrawal of the Down Royal Corporation of Horsebreeders from the Lands Tribunal process brings forward that outcome and we will continue our preparation to deliver horse racing from the beginning of 2019.
"We are looking forward to a new era at Down Royal and to enhancing the experience of race goers and other stakeholders while contributing to the local and wider community."
Down Royal have big fixtures coming up on 2-3 November, and the last one of the year on St Stephen’s Day.
