Your trusted source

King Charles has made more than £1million by selling off 14 of late Queen Elizabeth's beloved racehorses, reinforcing fears that he might be planning to wind down the royal racing operation, Daily Mail reports.

The King sold more than a third of his mother's racehorses, which he inherited upon her death last month, at the famous Tattersalls October sales in Newmarket, Suffolk this week.

The royal racehorses made him an average of £76,821 each - £1,075,500 in total - with Charles's first race-winning horse Just Fine being sold for £300,000.

Trained by the Queen's longest standing trainer Sir Michael Stoute, Just Fine won an impressive victory in Leicester earlier this month - the first win since the late monarch's death on September 8.

He was one of four of the Queen's former horses that sold for six-figure sums.

Meanwhile Love Affairs, which was the Queen's last winner at Goodwood two days before her death, sold for £38,000.

Charles has already had some success since inheriting his mother's racehorses, with Perfect Alibi earning him £28,000 with victory in a Listed contest at Yarmouth earlier this month.

But despite this, there are rumours that the new monarch might be planning to wind down, or at least scale back, the royal racing operation.

A source close to the Royal Sandringham Stud in Norfolk said there is talk of 'winding down' the breeding operation over three years, until it ceases to be a commercial operation.

The source said: 'The Royal stud could be a museum in three years. It would be a real shame.'

A Royal source confirmed Charles will reduce the number of horses but added: 'The connection between the family and the horse racing industry will continue.

'The desire is to continue with the traditions and connections with Royal Ascot but not on the same scale as Her Majesty because she had a passion.'