Richard Hannon will hand over the licence to son Richard jnr from January 1

Reigning champion Flat trainer Richard Hannon is to step down at the end of the year.

Despite having been responsible for sharp thoroughbreds like Lyric Fantasy and Lemon Souffle, Hannon has long considered five-times Group One-winning miler Canford Cliffs to have been the best horse he ever trained, and further top-level success at a mile has come this season with Toronado and Olympic Glory. Hannon, who was known for his peerless handling of juveniles, attracted leading owners like the Queen and bows out at the top after securing a record-breaking number of domestic winners (238) to earn over £4.5million in prize-money. Hannon famously saddled a winner for the Queen at Royal Ascot when Free Agent won the Chesham Stakes in 1999. Her Majesty's racing manager John Warren said: "The day Free Agent won the Chesham was special, as the Queen had gone a long while without a Royal Ascot winner. "Richard junior has obviously been incredibly closely associated all the way along the line, he's been there every step of the way. "Because of that, I doubt very much that anything will change - it's all about the next generation. "The partnership will continue and I'm sure he'll be a success in his own right. "He'll still make it fun and that is the main thing, when the Queen goes there she always comments how much fun she has there, it gives her so much pleasure." Hannon's great friend, former England footballer and successful trainer Mick Channon, said: "He's a genius, there is no other word for him. "Richard jnr is a lucky lad because he has learned from a master. I've always said that all the other trainers are his apprentices. "As well as being a great trainer, though, he's been a great mate to me down the years. We've been friends for a long time. "I'm pleased he's gone out right at the very top. He's a great trainer, but most of all a great man. "It's pretty emotional for me because for most of my life Richard Hannon has been a trainer and now he won't be. "Obviously I knew it was coming but it's still sad, it's the end of an era. "I'm thrilled for Richard jnr, though, he couldn't be taking over at a better time. "It's amazing what has been built up there. I remember Richard as assistant to his dad, Harry, in the days we used to use pitch forks as starting gates! "The right people send him horses now, that's why he's had so much success recently, but he was training Guineas winners back in the 70s. "He's got a great clientele, he always has had, and he deserves everything he's got." Richard Perham, who rode for Hannon for the duration of his career and is now a respected jockey coach at the British Racing School, said: "I started working for him the day after I left school at 16 and rode for him until I retired in 2001. "He provided me with some fantastic opportunities, and a few rollickings along the way as well! "Richard jnr has been an integral part of the team there for quite a number of years and what a wonderful legacy Richard snr has left for him to take over. That's the most poignant part. "When I joined Richard Hannon in 1984 he had 43 horses, so I've seen an awful lot of change and over the past nine years I've been quite envious seeing all the big-race winners and success they have had. "I wish him all the best and what a cracking lad Richard jnr is. He's a chip off the old block and he'll continue to go from strength to strength, I've no doubt about that."