A new buyer has been found for a racecourse - but they only have two weeks to secure a licence to partake in next year’s fixture process.

Great Leighs Racecourse, a track which has been beset by problems, closed less than a year after opening as the companies which owned it went into administration.

It was announced last week Terry Chambers, owner of Ashfields Carriage & Polo Club in Great Canfield, has entered into an agreement in principle with administrators Deloitte to buy the track.

But a new buyer would only have until May 28 to be issued with a horseracing licence by the British Horseracing Authority (BHA).

The licence is needed by close of business on that day for the authority to consider allocating 16 BHA fixtures outside of the bidding process to be staged at Great Leighs next year, and also to enable the course to participate in the bidding process on June 8.

Mr Chambers, a friend of previous owner John Holmes, said: “Having seen the struggle to create it, and how much it was appreciated by the racing industry, I could not stand by and see the hard work of John and his team come to nothing.

“Without set backs it was a good business, generating money for racing. It can be a good business again.”

He added: “Securing Great Leighs is one thing but there is still a lot of work to do, but with goodwill all round, the licence can be achieved and seamless racing can return through 2009 and beyond."

A racing licence application, which is needed for racing to take place, has not yet been submitted to the BHA.

Various issues would also need to be addressed before it could be granted, such as a 7 furlong shoot which was never built, yet was supposed to be part of the licensing conditions.

Racing at Great Leighs would not be completely ruled out for this year and beyond if the end of May deadline was missed, but it is unclear at this stage what the situation might be.