Cheltenham managing director Edward Gillespie admits the idea of switching the Festival meeting to a weekend remains on the table.
The March showpiece fixture currently runs from Tuesday to Friday but Gillespie believes the meeting could be moved after the course has been redeveloped.
He outlined plans for improvements at the track at a press conference marking the run-up to Cheltenham's 2011/12 season, which gets under way on Saturday week.
"Our plans going forward include the potential redevelopment here," said Gillespie.
"Since May we have commissioned a team of designers to come up with what we call a feasibility study and the report is in next week. I have been putting together with our team the business case for this. These will go to our board before the end of this year.
"So early next year we hope to give you good news of when we might be progressing these plans, which will enable the racegoers to have better vantage points from redeveloping the oldest grandstands at Cheltenham.
"We think we have a plan which will be appropriate for the next generation.
"We are looking forward to having the redevelopment completed within the next three to five years. Along with that, we will be able to talk about the possibility of the Festival moving to a weekend."
Gillespie also confirmed prize money for the Grade One events at the Festival will be on a par with last season, with all races due to meet their minimum requirements.
He added: "Our investment in prize money is something we are focusing on coming into this season. Our executive and sponsorship contribution this year will amount to £3.35 million. Sponsorship stands at a record £3.1 million."
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