OWNERS of Cheltenham Racecourse have stopped taking applications for supporters bonds after raising more than £24million towards a new grandstand.
Boasted as the first retail bond in British sport, The Jockey Club has secured £24,743,500 – the second-largest amount from an unlisted UK retail bond.
Exceeding its £15 million target, £18.6 million worth of applications were made by initial deadline.
A further £6.2 million was made during an extension period.
The funds will go towards ambitious £45 million development at Cheltenham Racecourse.
Paul Fisher, group managing director of Jockey Club Racecourses, said: "It's a great sign of trust in the strength of our 263-year-old brand and the modern, commercial approach we take today."