Ayr Racecourse wins £6.5m loan deal

Yesterday was Ladies' Day at Ayr ahead of today's Ayr Gold Cup. Picture: PA

Yesterday was Ladies' Day at Ayr ahead of today's Ayr Gold Cup. Picture: PA

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AYR Racecourse is preparing to embark on an expansion plan after securing a £6.5 million financing deal from Clydesdale Bank ahead of today’s Gold Cup.

The course, which is owned by Glasgow-based builder Dawn Group and Richard Johnstone’s Western Meeting Club, has received more than £20m of investment since 2006, when it was given the green light for a major redevelopment project.

David Brown, managing director at Ayr Racecourse, said: “There has been a huge surge in interest in racing in recent years, which has been matched by large sponsorship and increased media exposure, particularly TV and online platforms. We have been pursuing an ambitious programme of development and refurbishment at Ayr.”

The course – which also hosts the Scottish Grand National – has signed a five-year finance deal, its first with Clydesdale. Racing was recorded at Ayr as early as 1576, with the first two-day meeting held in 1771 and the Gold Cup beginning in 1804.

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