President Bush on Monday nominated Lane's End Farm owner William S. Farish to be ambassador to Britain. White House spokesman Ari Fleischer announced the nomination during his daily press briefing. "Will understands the important place that Britain holds for the United States as a trusted ally and key trading partner," Bush said in a statement. "I have full confidence that he will serve our country well."``I'm just extremely honored to be selected for this post,'' Farish told the Lexington Herald-Leader.Farish said he expected Senate confirmation hearings to take place in three or four weeks.``I'm really looking forward to representing our country as best I possibly can,'' Farish said. ``That is really the thrill and the challenge.''Farish, 62, is chairman of the board of Churchill Downs and is a Bush family friend. The nomination, which had been rumored for weeks, is subject to Senate confirmation. Farish played host to former president George Bush at last year's Kentucky Derby and to candidate Bush during the presidential election.Farish has a long-standing friendship with Great Britain's Queen Elizabeth II, an avid horse breeder and racing enthusiast. The Queen has visited Farish's farm on four occasions, and some of her horses have been mated to stallions standing at Farish's farm.Previously, Farish had confirmed he had spoken with members of the Bush administration. Farish would replace Philip Lader, a close friend of former president Bill Clinton.