Chepstow Racecourse in Monmouthshire, Wales, could become the home of a new four-day music festival if licence application to the county council is successful.

The Rainbow Spirit Enlightenment Fayre – organised by Arthur Turner-Thomas – will have a capacity of 15,000 if the application if approved.

Much of the profit raised from the event, which will take place on 9-12 August, will be donated to charities such as Barnados and Tenovus.

Musicians from across the world will play on three open-air stages that will be assembled at the racecourse, which has just been acquired as part of the Reuben brothers’ £66m takeover of Northern Racing.

Mr Turner-Thomas said he hopes that the capacity will go up to 50,000 next year and to 75,000 the year after.