Richard FitzGerald, Chief Executive of Racecourse Media Group (RMG) is to leave his position following a 12-year tenure at the company.

FitzGerald, who joined RMG in 2008 having been Chief Executive of Aston Villa Club, and his team have been responsible for the media rights of 34 British racecourses.

He has also been instrumental in negotiations between racecourse and racing’s terrestrial television partners during his time in the role. FitzGerald’s last deal before his announcement was the renewal of ITV Racing’s contract extension until the end of 2023.

FitzGerald said: “It has been a fabulous and rewarding 12 years working for RMG. The business has flourished and delivered on the vision of the founding shareholders around a collective approach to commercialising their media and data rights.

“It has been a great journey and I have enjoyed working with a strong, capable, committed and stable team to deliver the results we have been able to achieve consistently over the last decade.”

RMG Chairman Roger Lewis added: “On behalf of the board, I thank Richard for his exceptional leadership of the RMG team for almost 12 years.

“The achievements of RMG, which have driven its financial performance with Richard as CEO are significant, and include a groundbreaking data licensing and production service, an LBO deal with SIS, the securing of the right to Irish racing, the rebrand and launch of Racing TV, enhancing its HD service, and the expansion of RMG opportunities across the world.

“Richard leaves RMG with our sincerest thanks and best wishes for having delivered an outstanding performance over a considerable period of time.”

FitzGerald will be replaced by RMG’s finance director Martin Stevenson, who is to become action Chief Executive of the company.