Councillor Russell Goodway, who holds the finance portfolio in the Cardiff cabinet, told the full council meeting that it was working to find an alternative operator to run the riding school on its 30-acre site in Pontcanna.
Supporters of the riding school, which has 50 horses on the 30-acre site, protested outside a council meeting last Thursday, which led to it being halted for 15 minutes to meet the demonstrators.