Ant and Dec have revealed that Simon Cowell was initially keen to name their jointly owned racehorse after himself – but the idea was rejected.

Speaking on the Jonathan Ross Show the TV presenting duo said that they have taken a part-share in the horse with the mogul, and that he is on course to run his first race within the next few months.

“We had to name the horse because obviously it wasn’t named for racing, so we had a chat with Simon,” Dec said. “His first suggestion was ‘I think we should call him Simon’.”

However after some negotiation they named the animal It’s A Yes From me – referring to a phrase often heard on Simon’s talent showss

The new horse has been purchased by the trio after Ant and Dec recently sold another horse they owned.

The pair also revealed on the show that they have had to insure themselves as a double act, meaning if anything happens to one of them the other would receive a payout.

“Financially the other one would get a kick back off that. Every cloud – we have insured each other against that,” Dec said.

However Ant revealed there was a downside to the plan, adding: “The problem with that is that if one of us has a fatal accident, we’re the first one that the police will come to because we’ve got a motive.”