The estate of Paul Mellon, the American owner/breeder who died in 1999, has donated $3.5 million to the British Horseracing Board's Rehabilitation Of Racehorses charity.
Of the donation, $500,000 is to be used toward the building of a new BHB rehabilitation center, with work set to start in 2003.
Andrew Parker-Bowles, chairman of the RoR, said: "Of the $3.5m, $3m is the capital sum, of which we are only allowed to touch five per cent each year, which works out at roughly £100,000. There is a second amount of $500,000 which we can use to fund the new centre.
"The £100,000 goes into the kitty and it is up to my committee -- which represents owners, trainers, breeders and racecourses - to decide how it is spent each year.
"Some months ago, the Mellon Trust, which is already very involved in funding for ex-racehorses in America, expressed interest in what was being done in the same field here in Britain. The result is this wonderful donation."
He stressed that contributions from the British racing, breeding and betting industries were still needed by the RoR.