Ex-Walsall owner Terry Ramsden back at the races

Flamboyant former punter and Walsall FC owner Terry Ramsden - said to have gambled away a staggering £58m in three years during the 1980s - is back in racing.

Ramsden, now based in Tenerife, is due to have a horse in action tonight at Goodwood.

He owned the horse, Jake The Snake, several years ago and named him after his son. But his comeback into racing ownership did not work out and the horse was sold.

But Ramsden bought him back last month and put him into training with Tony Carroll. Ramsden has also bought a second horse, called Secret Millionaire which could run at Royal Ascot next week.

Ramsden bought the Saddlers in 1986. They earned promotion through the old Third Division play-offs, but Ramsden's business empire, Glen International, collapsed two years later with debts of £100m.

Ramsden was jailed for fraud, serving 21 months, and warned off racing for owing £2m to Ladbrokes.