HOPES have been raised that Great Leighs racecourse could soon be back in business.
Britain's newest track has not staged a meeting since it was placed into administration on January but administrators Deloitte have reported that a sale has been agreed "in principle".
It is believed that the prospective new owner is an Essex businessman with no connection to any other existing racecourse.
If the sale goes through, then racing could resume at the track as early as next month and they could then bid for 2010 fixtures.
However, even if the potential new owner involved satisfies the financial demands of Deloitte and major creditors, the Royal Bank of Scotland, reopening Great Leighs for racing depends on the new owner being granted a licence by the British Horseracing authority.
Racing's governing body is certain to require guarantees about security of tenure and completion of outstanding facilities, which led to its refusal to grant a further temporary licence in January.