Venezuelan billionaire Alejandro Betancourt López has been revealed as the multi-million-pound buyer behind two of the Lambourn area’s most historic racing yards.
Betancourt López—recently selected by the Trump administration to play a leading role in developing and selling Venezuela’s oil reserves—acquired Wetherdown House Stables, the training base of Charlie Hills, and Kingston Warren, home to Henry Candy. The sales took place in 2024 and 2025, although the identity of the buyer has only recently become public. Both trainers continue to operate from their respective yards as tenants.
Wetherdown House Stables forms part of the renowned Faringdon Place operation developed by Charlie’s father, legendary trainer Barry Hills. The complex centres around three large American barns capable of housing approximately 150 horses.
Charlie Hills took over the licence from his father in 2011 and has since trained numerous Group 1 winners, most notably the exceptional sprinter Battaash and Classic winner Just The Judge.
Kingston Warren is another historic yard, set amid approximately 1,000 acres of varied terrain. Henry Candy has trained there for more than 50 years, consistently producing outstanding horses without commanding the largest budgets.
Candy is widely admired for bringing out the best in both sprinters and middle-distance horses. His long career has included champions such as Time Charter, Limato and Twilight Son.
A search of specialist estate agent Windsor Clive’s property records shows that several other training yards in and around Lambourn have also changed hands, although the identities and intentions of the purchasers are not always publicly known.
This inevitably raises questions. Are these purchases simply long-term investments in valuable racing properties—or could some buyers ultimately have other ambitions for the land?
There are important safeguards. West Berkshire Council’s planning policy seeks to prevent the unnecessary loss or fragmentation of racehorse-training facilities. Any proposed change of use would need to demonstrate that a yard was no longer required and would normally require evidence of robust marketing. However, this represents significant protection rather than an absolute prohibition.
Some properties may also be subject to restrictive covenants. Jockey Club Estates, which owns and manages more than 500 acres of the Lambourn Training Grounds, also has a clear interest in maintaining a thriving concentration of racing yards and horses in the area.
For the present, both Wetherdown House and Kingston Warren remain active racing establishments. Nevertheless, with several historic yards changing ownership, the industry is entitled to ask:
What exactly is happening in the Valley of the Racehorse—and who is safeguarding its long-term future?