No more British Showjumping events are to be held at Towerlands Park from the end of October.

“It’s just financially not viable to run horse events there any more,” Tim Gredley, managing director of the Unex Group which owns Towerlands, told H&H.

“Despite a massive cash injection a few years ago, we’re failing to see a return on the horse business, which is very sad.

“The conference centre side and golf course are both successful — so we intend to explore other options, some of which include pop concerts, exhibitions and self storage units.

He added the announcement was “in no way” connected to his departure from the sport.

“We were thinking of terminating the horse events two years ago, but added more money and gave it another go, but it just wasn’t working,” he said.

The restaurant and partition dividing the main ring and collecting ring are to be knocked down to make one larger arena — for concerts and exhibitions.

A spokesman for British Showjumping told H&H: “It’s a terrific loss for our membership and the sport as a whole but we would like to take this opportunity to thank the Gredley family for all the support they’ve shown British Showjumping over the years.

“As venue owners they have continually worked proactively alongside us whilst also being one of our leading international owners, a role they continue to support and one which we are extremely grateful for.”

But the venue will still be available for private hire for horse events. The Equestrian Events Halloween Show and a Monty Roberts demonstration are planned for this autumn.