British Home Secretary Jack Straw is expected to announce in the House of Commons today that the Government intends to sell the Tote to a racing trust.
The decision which will be announced in the form of a written answer is likely to be accompanied by a further announcement on Government plans for the levy.
Representatives from the Tote, its staff, the British Horseracing Board, racecourses and the Jockey Club are expected to sit on the proposed racing trust.
Members of the Tote's senior management and the BHB are due to be briefed this morning in advance of the long awaited statement.
It will come after Nuneaton MP Bill Olner tables a question asking the Secretary of State, "If he will make a statement on the sale of the Tote and the future of the Levy Board?"
The current market value of the Tote is estimated to be in excess of £200 million but the Tote and the BHB are hoping to secure ownership for £50 million.
