A new race, the £30,000 Listed Bud Booth Mares’ Chase, is one of four additional Mares’ Listed Chases added to Britain’s racing programme.
Mr Booth - who is the managing director of the Colin Booth Group, a holding company for a variety of businesses in Lincolnshire - will retire as chairman at the end of 2016 and the racecourse’s committee felt it was appropriate that the contest should be run in his honour to mark his many years of service to racing in Lincolnshire.
His relationship with racing goes back to long before his period as chairman - sponsoring a race in memory of his father, being a racecourse steward and a racehorse owner too.
Market Rasen Racecourse general manager Nadia Gollings said: “Bud has been and will continue to be a huge friend to everyone involved at Market Rasen Racecourse.
“His wisdom, knowledge and advice will be sorely missed by us all, but I am sure he will remain a regular visitor to the racecourse from next year onwards after he steps down as chairman.”
And Mr Booth said he was honoured by the racecourse’s gesture.
He said: “I am hugely grateful to the committee of Market Rasen Racecourse for running this new race in my name.
“It is a great honour that they have bestowed upon me.
“I have served on the committee of the racecourse as a director and then chairman for the last 25 years – and I have sponsored a race in memory of my late father for 42 years.
“Market Rasen Racecourse has been a huge part of my life and, through my role, I have met some wonderful people who have become friends.
“Ironically, the late Victor Lucas who founded the racecourse and my father were firm friends, but I did not start my role until they had both died so it was an unbelievable coincidence that I became involved later.”
The first race tomorrow (Thursday, November 3) is at 1.05pm.
Gates open two hours before the first race.
For more information about the event go to marketrasenraces.co.uk.