"I have already written and spoken to you with my views about recent events.

"I very much regret that a 'trial by press' situation has been able to develop which has, I believe, made my position untenable.

"For the record, our strategy was always for me to have a private meeting with Roger Buffham.

"As the purpose of the meeting was to win his confidence, I had no choice but to accept his assurances that he was not wired and to indicate sympathy for his views.

"Panorama infringed the privacy of our meeting and recorded me making some pretty critical remarks that will be seen to be damaging to the Jockey Club, although you know they are not my real views.

"I accept that my approach has caused embarrassment, for which I apologise most sincerely.

"Although the Panorama team discarded the agreed line of questioning at Newmarket, I felt nonetheless it best to continue to co-operate.

"Had we had some previous knowledge or indication that Panorama had recorded and filmed my meeting with Roger we would never have agreed to an interview at that stage.

"Rather unexpectedly I became the Jockey Club fall guy.

"To date I have served eight months as your director of security.

"Whilst some have described the post as a poisoned chalice I have really enjoyed the challenge and believe have achieved some good results.

"I have a good, loyal and professional team who have been very supportive, especially most recently.

"I wish to take an honourable approach over this whole affair to save any further embarrassment to you and the Jockey Club and very sadly must therefore offer you my resignation."