KEMPTON, home of the King George VI Chase, could be closed for housing redevelopment "from 2021 at the earliest", its owners the Jockey Club has announced.

The planned £500m of investments to be made in the sport in a 10-year plan proposed by the Jockey Club would see Kempton proposed as a future redevelopment site, with a new all-weather venue to be built if that idea goes ahead.

The Jockey Club's land at The Links in Newmarket is the front-runner as the location for a new floodlit artificial track, with the King George switching to Sandown.

The Kempton estate – on which it is anticipated any future development on racecourse land would be from 2021 at the earliest, subject to a successful planning process – has been submitted for consideration following the local authority's Call for Sites to address unmet local housing needs and a decision to undertake a review of its Green Belt.

However, the Jockey Club insist Kempton will only be redeveloped if the move will generate in excess of £100m investment and the proposed all-weather circuit at Newmarket is given the green light.

Roger Weatherby, senior steward of the Jockey Club, said: "The Jockey Club is governed by Royal Charter to act for the long-term good of British racing.

"One of the ways we want to live up to that is through a series of projects that offer benefits all around the country and collectively add up to us contributing more than half a billion pounds to the sport over the next decade from its grassroots to top level.

"We must show leadership with the assets we have and, where merited, take tough decisions to help our sport to keep moving forward. The decision to submit our estate at Kempton Park for consideration in the Local Plan is unique and has not been taken lightly.

"Our board of stewards are horsemen and, having carefully considered what we can achieve in the long-run from doing so, are unanimously of the view that British racing is better served by us doing so.

"Horsemen and customers alike will enjoy the benefit of numerous projects nationwide that result from the record investment proposals we unveil today, which include investments at each of our racecourses and training grounds throughout the country."

The Jockey Club will request that the King George and a select amount of Kempton's jumps events be transferred to nearby Sandown, just six miles away.

Kempton's other jumps fixtures could be spread around other Jockey Club-owned racecourses throughout the country, although consultation with the British Horseracing Authority and the wider sport, as well as a careful review of turf capacity, would be undertaken.

The British Horseracing Authority said it would work alongside the Jockey Club to benefit the "long-term interests of the sport".

BHA chief executive Nick Rust said: "We acknowledge and understand the reasons behind the Jockey Club's announcement earlier today.

"The BHA will work with the Jockey Club in the development of their plans, to ensure that the long-term interests of the sport – and its grassroots – are best served in the coming years, with a particular focus on safeguarding the future health of jump racing.

"It is early days yet, but should Kempton close, its jump fixtures will remain as jump fixtures.

"The proposed Newmarket all-weather track would need to go through the usual processes for the addition of new racecourses, which includes the submission of an application for approval by the BHA board, and ensuring that the course would meet all the necessary licensing criteria."