Reigning champion Flat trainer Richard Hannon is to retire at the end of the year.
The Wiltshire-based handler, 68, will hand over the licence to his son, Richard Hannon junior, on January 1.
Speaking on his website,
www.richardhannonracing.co.uk
, Hannon said: "The worst-kept secret is racing is finally out - I am standing down from New Year's Day."
He added: "It was always going to happen, but Richard jnr has served his apprenticeship and you cannot keep him waiting forever. Ian Balding passed the baton to Andrew and Barry Hills did likewise to Charlie, and it is only right that Richard should now take over.
"We thought long and hard as to when to make the announcement, but I wanted to make sure all my owners knew first, especially the Queen, and now that all the yearlings are in for next season it is the appropriate moment to let everyone know.
"Inevitably, people will say that I have retired, but I will still be up and out at first lot and assisting Richard instead of him assisting me.
"It is not my style to lay in bed all morning - I love being with the horses, but these past couple of seasons I have started to wind down and go racing less.
"I will still go to Newbury and Salisbury and also Royal Ascot and Goodwood, but I am now 68 and maybe it is time that I dropped down a gear."
Hannon, crowned champion trainer three times in the last four years, secured countless big-race victories, including three triumphs in the 2000 Guineas with Mon Fils, Don't Forget Me and Tirol. He also claimed the 1000 Guineas last season with Sky Lantern.
He began training in 1970 following the retirement of his father, Harry.
Despite having been responsible for sharp thoroughbreds like Lyric Fantasy and Lemon Souffle, Hannon has long considered five-times Group One-winning miler Canford Cliffs to have been the best horse he ever trained, and further top-level success at a mile has come this season with Toronado and Olympic Glory.
Hannon, who was known for his peerless handling of juveniles, attracted leading owners like the Queen and bows out at the top after securing a record-breaking number of domestic winners (238) to earn over £4.5million in prize-money.
Hannon has been a major player across the globe in the last few years and was quick to acknowledge the role of his son in attracting prominent owners to the yard, among them Sheikh Joaan Al Thani, in whose silks Toronado and Olympic Glory won the Sussex Stakes and Queen Elizabeth II Stakes respectively this season.
He said: "The quality of horses has definitely improved these last two or three years, and that is down to Richard jnr. It was him who brought in Sheikh Hamdan (Al Maktoum) and Sheikh Joaan (Al Thani) amongst others, and we can now go to the bloodstock sales with fatter cheque books than we have done in the past."
Reflecting on his career, Hannon said: "I have been lucky enough to have trained some great horses. The first Classic winner is always special and I will never forget Mon Fils (1973) landing that Guineas, while Tirol and Don't Forget Me also have prominent places in the scrapbook, but there have been plenty of others, notably Canford Cliffs, Paco Boy, Toronado, Sky Lantern and Olympic Glory.
"However, we have one more roll of the dice this year, Sky Lantern in the Hong Kong Mile at Sha Tin on December 8. We have enjoyed another fabulous season, with seven Group One winners and £5.5m in prize-money, but it would be nice to finish with one more biggie, and maybe Sky Lantern can make the dream become reality. She is very well and she will love the fast ground out there.
"Then who knows Richard jnr might get off to a flying start by winning the 2000 Guineas with Toormore or one of the others. Now that would be the perfect lift-off, wouldn't it?"
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