His horse was dubbed “the worst racehorse in history” after coming last in Saturday’s Epsom Derby.

Now millionaire racehorse owner Fergus Wilson has decided to retire from the sport.

Property tycoon Mr Wilson, who owns dozens of homes in the Ashford and Folkestone areas, entered Maidstone Mixture, a three-year-old grey colt, in the race.

Despite odds dropping from 1,000-1 to 250-1 and a start which saw Maidstone Mixture setting the pace, the horse came last.

During the weekend, race commentators in national newspapers speculated that he was “the worst racehorse in history,” with one pundit predicting there was “more chance of Lord Lucan riding in the Derby than Maidstone Mixture winning.”

Defending the horse’s entry, Mr Wilson said: “There were 660 horses that applied for the Epsom Derby and Maidstone Mixture got down to the final 16.

“In every race there is always someone that has to come last, but the horse set the pace for the rest of the field for a good few furlongs. That was always the plan.

“If you got down from 660 people to 16 on something like the X-Factor you would say that’s a good result.”

Mr Wilson, who has been racing horses for 10 years, watched the race from home, while his wife, Judith, was at the event.

Mrs Wilson is to take over ownerership of Mr Wilson’s stable of 15 horses.