The one mile and six furlong racecourse, is renowned as one of the most testing National Hunt tracks in the country with its tight corners and a steep four-furlong finale, notorious contributors to formbook upsets.

Towcester, operated by the Towcester Racecourse Company ("TRC"), has undergone an extensive £10million expansion programme in recent years including the £5.7million construction of the Empress Stand in 2005 and a £1.8million investment in stables and ancillary facilities during 2002-03.

Chief executive, Chris Palmer, said: "The Hesketh family has always taken immense pride in Towcester and it is no secret that the facilities available to all members of the horseracing community at this Racecourse are second to none.

"Race-day income, largely generated from media rights, betting and catering, is the lifeblood of the business but, thanks to the quality of our assets, this is more than matched by hospitality income, our other principal revenue stream. The £10million investment programme effectively underwrites our hospitality income and our hospitality income effectively underwrites our profitability."