Sir Stanley Clarke, president of the Northern Racing Group and owner of 1997 Grand National winner Lord Gyllene has died at the age of 71.
Clarke was awarded a CBE in 1990 followed by a knighthood in 2001
Sir Stanley will be considered by many to have been a major contributor to racing's "commercial revolution".
His interest in racing began in the 1960s and he even held a trainer's permit and featured prominently on the point-to-point circuit as well.
Clarke had been fighting illness since 2000 and passed away peacefully.
Trainer Martin Pipe led the tributes, saying he was a "true gentleman".
Pipe handled a number of horses for Sir Stanley including Rolling Ball, the Royal and SunAlliance Chase winner at Cheltenham in 1991.
"He was a real gentleman. He worked hard and was an example to us all," said Pipe.
"We had some good wins together. I have known Sir Stanley for many years and he will be sadly missed. My thoughts go out to his wife and family."