Horse Racing Ireland (HRI) have confirmed that racing will continue at Down Royal Racecourse following ‘a seamless transition’ between operators at the end of the year.
Dublin-based property business Merrion Group bought the County Down track in 2005 and they will take over its running after Down Royal Corporation of Horse Breeders’ lease ends on 31 December.
There were fears that this would lead to a break in racing, or worse, but HRI have announced that a deal has been struck.
A statement released by HRI stated: "The owners of Down Royal Racecourse Merrion Group, who from next year will take over the day-to-day running of the course, have come to an agreement with the Down Royal Corporation of Horse Breeders which will ensure a smooth handover of the site and a seamless transition into racing at Down Royal from 2019 and beyond.
"The agreement, which has been signed off this week, covers the fixtures and fittings at the site as well as the branding associated with the historic racecourse which has staged horse racing for over 200 years.
"When the Merrion Group signalled its intention to take over the management of the course, Horse Racing Ireland pledged to talk to both parties around outstanding issues."
The final meeting under the racecourse’s outgoing management will take place on St Stephen’s Day and the next meeting will be on 29 January.
Down Royal is the only racecourse in Northern Ireland.
"I am pleased that agreement has been reached which will allow racing to continue in a seamless manner at Down Royal," said HRI Chief Executive, Brian Kavanagh.
"This was not an easy situation, but both sides were willing to find a resolution in order for a deal to be struck. That is now the situation and we look forward to working with the new management team at Down Royal."
