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.
More top news
A cooler and cloudier day on the whole, although it will remain dry in most places.
Rather cloudy with an increasing chance of rain during the day, perhaps heavy at times later across northern parts.
A man has been charged with attempted murder after a man suffered stab wounds in Perry Barr yesterday.