It's the largest ever investment into a racecourse by the commercial group. The £45 million vision would see a new state-of-the-art grandstand in place of the current 'A&R' stand built in the 1920s.
It would include new annual members' facilities, general public viewing areas, private boxes and Royal Box facilities.
The plans are subject to planning consent, with a detailed application being submitted to Cheltenham Borough Council by the end of April.
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Mostly dry overnight.
Mainly dry overnight and during Wednesday, and feeling warm.
Stoke City, Aston Villa, Leicester City and Wolves have all been in action in the third round of the Carabao cup tonight.