Controversial plans to modernise the county showground and boost revenue have split the Kent County Agricultural Society, provoking the first leadership challenge in its 85-year history.

The fate of society chairman George Jessel now rests with some 2,000 members who will be asked to vote on who should lead them.

He faces a challenge from Malcolm Chamberlain, a former society vice-chairman.

Opponents claim the plans are too ambitious, would stretch finances in the economic downturn, and jeopardise the society’s future. Some wish to see a slimmed-down county show with greater emphasis on farming. One member told Mr Jessel that if he did not produce a business plan in two weeks, he should resign.

But Mr Jessel argued that standing still was not an option. The county show lost £300,000 last year, "decaying and rather ancient events buildings" needed renewal if they were to attract events, and new sources of income were essential.

The three options range from an "all bells and whistles" scheme for a major exhibition centre, equine facilities for Hadlow College, and a possible Olympic-standard equestrian arena - costing up to £27m - to a more modest Centre for Rural Excellence (£10m), or simply a building revamp (£6m). Hadlow College would be involved in the first two options and would share the cost.

The new masterplan was a fully-costed "wish list" and aspects of it, especially the Olympic arena, could be trimmed, Mr Jessel added, saying that grants would almost certainly be available for the right scheme. It had to be ambitious to take to potential supporters like the Government, Kent County Council and SEEDA.

"We ae losing potential business from event organisers due to our poor quality of events buildings and our facilities. My job is to safeguard the county show but I’ve got to make it stand on its own two feet. It cannot continue to lose money. If we keep with the current format and buildings, we just won’t survive as a society."

The outcome of the ballot will be revealed on February 6.