The project would involve pop-up horseracing tracks in iconic cities across the globe.

Venues on the wish list include: London, Paris, Australia, Asia, the Middle East and the US.

Phillips believes he has already demonstrated the idea can work with the Global Champions Tour; there, the pop-up racetrack can be both set up and removed within three days.

The concept will involve five-furlong straight tracks, with horses ridden by top international jockeys.

Funding for the events will come from sponsors, ticketing and betting on the live action.

Phillips said: "We are now in the process of talking to a number of cities about hosting races later in 2019 and 2020. We hope to have some of these agreements in place by the end of March."

Safety will be at the forefront of the plans, said Phillips, who is 14th in line to the throne.

He explained: "There will be a pedestrian crowd barrier, two or three metres back from the edge of the track and people lined four or five deep, getting up close to these horses running at 30mph."