The 1000 and 2000 Guineas are run on Newmarket's Rowley Mile course

The Kempton plan would mean an end to flat racing on the turf but lead to the retention of the jumps course, which would ensure the continued running of the prestigious King George VI Chase.

A previous plan had suggested moving jumps racing away from Kempton but that drew strong criticism from racing figures.

The scheme involves building a 10-furlong oval all-weather track costing about �10m as well as infrastructure improvements to the site and the upgrading of the steeplechase and hurdle courses.

Existing grandstands would be retained as part of the plan, with floodlighting included to enable regular evening racing throughout the year.

Top-class tracks at Kempton and Newmarket will enhance the quality of our overall racing RHT chairman David James

The scheme proposed for Newmarket would see a �4m all-weather track built alongside the Rowley Mile course, on the far side from the grandstands.

David James, chairman of RHT, said: "We believe all-weather racing at RHT courses is strategically important.

"Top-class tracks at Kempton and Newmarket will enhance the quality of our overall racing on offer and will help meet the needs of the racing and betting markets.

"This investment provides the potential to improve the quality of all-weather racing."

Both courses will now begin a round of detailed consultation before submitting final plans.