Plans to bring back racing to Lincoln's West Common have been put on hold.
The Lincoln Racecourse Regeneration Company has withdrawn its application, three days before the proposals were to be considered by the city council.
The firm said it did not feel the application was going to be properly presented at the meeting and more work was needed.
Opponents of the scheme said they were delighted, adding that they intend to develop their own plans for the area.
The project had faced vocal criticism from some nearby residents who feared it would cause traffic congestion.
Last month the Commons Advisory Committee, a panel of local interest groups, criticised the proposals as being too vague.
Karen Rastall, one of the directors of the Lincoln Racecourse Regeneration Company (LRRC), insisted the scheme was only being deferred.
"We feel the report that was tabled for Monday evening and the options that were actually outlined for the council to consider were not in keeping with the discussions we had been holding with Lincoln City Council for a considerable period of time.
"They did not reflect the behind-the-scenes discussions that had been on the go and the information the council had been asking for."
Chris Dunbar, communications manager at City of Lincoln Council, said: "The meeting is still scheduled to take place as planned.
"The report to be presented to the executive is a fair appraisal of the proposal, taking into account both the information presented by LRRC and the comments of the Commons Advisory Panel."