Palace Pier, a five-time winner of Group One races, has been retired after he finished second on Saturday in the Queen Elizabeth II Stakes on Champions Day at Ascot. 

The John and Thady Gosden-trained colt collected over £1.4million in prize money for connections after first appearing in August 2019. 

Palace Pier, the son of Kingman, won both of his races as a two-year-old, with Frankie Dettori leading him to a brace of victories at Sandown. 

After the coronavirus pandemic, the four-year-old did not return to the track until June 2020. 

But he won three races in a row last summer, including two Group One successes, the St James' Palace Stakes at Ascot and the Prix Jacques Le Marois at Deauville. 

He then tasted defeat for the first time in the Queen Elizabeth II Stakes, the only race he would be beaten in. 

The Revenant got the better of him last autumn, while it was Baaeed that proved too good this time around. 

Earlier this summer, Dettori helped him win the Lockinge Stages at Newbury, while the fan favourite added two more Group Ones to his record in the Queen Anne Stakes and a second win at Deauville in the Prix Jacques Le Marois. 

Connections have now decided to retire him at the age of four, and Dettori, who rode him in 10 of his 11 races, says he was one of the best horses he ever had the pleasure of teaming up with. 

The Italian told PA Media: "Palace Pier has been a great champion and is probably one of the best milers I've ridden. 

"Things didn't go our way on Saturday, but he's done nothing wrong in his career — and he'll be a great asset to Darley Stud." 

Palace Pier is to stand at Darley's Dalham Hall Stud, with a fee to be announced at a later date. 

Despite his defeat on Saturday, he is also still at the top of the table to be crowned Cartier Horse of the Year. 

While Palace Pier's racing days are over, jockey Dettori is already planning his rides for the 2021 Breeders' Cup.

He has been booked for Argentine outsider Blue Stripe in the Breeders' Cup Distaff. 

Dettori is to ride in his 29th Breeders' Cup, currently sitting fourth in the list of winning jockeys after 14 victories. 

Blue Stripe has joined Marcelo Polanco's stable in Santa Anita since she arrived in the US and the handler says preparations have been going well for the race. 

Polanco said: "Blue Stripe came here in May, and we have been acclimatising her, and actually she has been very easy to acclimatise. She's been training fine. So far I have no complaints. 

"She is very professional. She is doing pretty good. I hope it keeps going the same way."