Hello and welcome from Carnoustie
Depending on what the grass is, ploughing and reseeding shouldn't be the first option. If it was sown for silage, then it's probably a ryegrass / clover mix but if it's been down a while I'm sure it will have wildlife value. Cutting and removing grass for hay or silage depletes the soil's resources, and if it hasn't been grazed or fertilised then nutrient levels may be getting low. A soil test will verify this.
The best sustainable managers of grassland are livestock, especially sheep but sheep and cattle do well together as they graze differently.
Can I urge you to use the land for some kind of food production? If it's been used for silage production, I guess it's reasonably good quality land. Given that they're not making land any more, I believe it's incumbent on those of us who have the privilege to have responsibility for land to steward it well and, in a world of food scares, food insecurity and food shortages, to produce food from it.
Sorry, don't want to go off on one and scare you off

You'll find lots of help and hopefully inspiration on the website and the forums. If you can make it along to the Scottish Smallholder and Grower Festival at Lanark in September - there will be more help and inspiration and the opportunity to meet lots of TASers, I hope.