Martin St Quinton has been appointed to chair the committee overseeing the financial plans of Cheltenham racecourse's £45 million redevelopment.
Gloucester Rugby's vice-chairman and a long-standing horse owner is currently also a non-executive racecourse committee director at Epsom.
He said: "Not so long ago, to raise funding for this type of project you would only turn to your bank. But today's climate is different and we are now seeing highly innovative and effective new ways of financing being explored and created.
"I'm delighted to lean on my experience in business and finance to work with The Jockey Club funding committee on the funding of this highly prestigious development and we have got off to an excellent start as a result of the Racecourse Bond offer being highly successful.
"As far as jump racing is concerned, Cheltenham is the centre of the universe and we are determined for facilities to match its hard-earned standing within British sport through this exciting project."
The main development will begin after the 2014 Cheltenham Festival and is set to be completed by 2015, with racing continuing as normal.