International Racecourse Management, whose interests in Great Britain include Doncaster and Redcar racecourses, has reached a three-year agreement to operate the new $120-million racetrack being built near Riyadh, Saudi Arabia.

IRM won the contract over three other candidates and will provide management consulting and training services for the Equestrian Club of Riyadh.

"We well be starting operations in February, and it will entail the full-time presence of one our staff, and irregular visits from the directors, either myself, Jonathan Irwin or Lord Zetland," IRM chief executive John Sanderson told Racing Post.