Britain's 12 leading racecourses have entered negotiations which will secure the future of horse racing on terrestrial television, it emerged yesterday.

The "Super 12" as they are known and a consortium of the BBC, Channel 4 and Premium TV, a subsidiary of ntl Incorporated, reached provisional agreement on a deal in excess of £200 million for the rights to televise racing.

The parties concerned aim to finalise the contract soon.

The deal under discussion, which would run for 10 years, covers worldwide rights - including terrestrial television, interactive TV and internet - to all racing at the Super 12 group of British racecourses. It will guarantee continued terrestrial coverage of Britain's premier races and race meetings.

The "Super 12" courses are Aintree, Ascot, Cheltenham, Doncaster, Epsom, Goodwood, Haydock, Kempton, Newbury, Newmarket, Sandown and York.

Sky was the original front runner but pulled out citing racing's apparent prevarication as the main reason.