The 53-year-old millionaire has teamed up with three friends to purchase the one-year-old thoroughbred and they want to launch the filly's racing career before the summer, reported Showbiz spy.
"Simon has been into racing for years. He has always wanted to be more involved than being just a punter. The opportunity came up to buy a young horse that's destined for the track and they all jumped at the chance. Simon is being guided by Ant and Dec as they have experience in the ownership of horses.
"As for the name, that's still up in the air but they could do worse than name her after something they're all associated with, like Britain's Got Talent," a source said.