Arena is the preferred bidder to enter into a joint venture partnership with Doncaster Metropolitan Borough Council ("DMBC").
Following an approach by DMBC, Arena has concluded an interim management agreement through to 31 December 2004, during which time the joint venture agreement is expected to be completed that would allow Arena to take full day to day control of the racecourse.
Ian Penrose, chief executive of Arena said: "We are delighted to have concluded interim management arrangement for Doncaster racecourse at short notice. Arena's chief operating officer, Ted Taylor, will assume the title of managing director of the racecourse, in addition to his position as managing director of Royal Windsor racecourse.
We expect to conclude the joint venture partnership with DMBC later this year and begin the immediate transformation and rejuvenation of the racecourse."
