Charles Allen is set to take up the position as chair of the British Horseracing Authority and bring forward his radical agenda for change after agreement was reached on the way forward for British racing at a lengthy board meeting of the governing body at its headquarters in London July 28.
Lord Allen had proposed major changes to the governance of the sport, which had split opinion and caused animosity among racecourses and members of the Thoroughbred Group alike.
After months of haggling and uncertainty about whether he would take up the role, Allen has received agreement on much of what he had demanded if he were to join the governing body, headed by a fully independent BHA board, and is set to start Sept. 1.
Allen said, "I am delighted we have agreed to a process towards a new independent BHA board, and I look forward to formally starting in September.
"Horse racing has a strong future. There is work to do, but I am in no doubt as to the passion and commitment of the many thousands of people who make up our industry."
The BHA said the planned independent board would oversee a single BHA executive, led by a chief executive, which would suggest that Allen's proposals to split the BHA into a regulatory arm and a commercial body have not been taken up at this point.
The governing body said Allen and the BHA would now begin the next steps towards creating an independent board, including experienced individuals from the industry, through a "period of transition and subject to ratification by the members".
The BHA's interim chair David Jones said: "The BHA board has made clear its commitment to pressing ahead with the establishment of an independent board of directors.
"We look forward to working with Lord Allen to support the industry as it takes this important step forward towards a strong future."
The news should put an end to the state of limbo surrounding the leadership of British racing that has been in place since it emerged that Lord Allen was delaying joining the governing body.
Allen, described at the time of his appointment in November as one of the most prominent business leaders of his generation, had been due to take up the role of BHA chair at the start of last month.
Although he had no background in horse racing, his wealth of experience in business, links to the government as a Labor peer, and knowledge of global sports events, including his involvement in the organization of the 2012 London Olympics among others, had made him the leading candidate.
However, just days before he was due to start at the governing body, it was revealed that Allen was delaying joining the BHA as he wanted to "continue meeting stakeholders to better inform his vision for the sport"
It subsequently emerged that Allen's vision for the sport would represent the biggest change to the sport's governance in nearly 20 years.
His proposals included removing the member-nominated directors from the BHA board and making it completely independent.
He also wanted to split the BHA in two, creating a regulatory arm and a commercially focused body, both of which he would chair.
Those proposals were formally presented to the BHA at its board meeting last month and then shared with the governing body's members.
Organizations within British racing, including the Jockey Club, large independent racecourses such as Ascot, and trainers, jockeys, and racing staff have all voiced support for Allen's vision.
The proposals were given a public vote of confidence last week from the Jockey Club, whose chief executive Jim Mullen said the organization was "fully supportive" of Lord Allen's plans for the BHA board to be fully independent.
However, that has not been the case for all of British racing's constituents, with the ROA having misgivings about the cost of Allen's plans and some racecourses holding concerns over issues such as racecourse ownership of fixtures and media rights.
There had been an increasing sense of urgency that the situation should be resolved, with the sport facing a number of major challenges, headed by the government's plans to harmonize online gambling duties.
