The Breeders’ Cup Board of Directors approved core components of the
organization’s long-term strategic plan today at its December meeting in
Lexington, Kentucky, it was announced Friday.
In addition, the board promoted Chief Financial Officer Matthew Lutz to the
position of Chief Operating Officer/CFO and reviewed results of the 26th
Breeders’ Cup World Championships at Santa Anita.
The pillars of the strategic plan adopted by the board are:
*Explore the feasibility of a single permanent host site location for the
Breeders’ Cup World Championships;
*Establish a new Breeders’ Cup Racing Series in partnership with North
American and European racetracks to better define and market the road to the
Breeders’ Cup World Championships;
*Expand brand marketing and commercial development programs, with an emphasis
on digital marketing and social media;
*Take a new approach to nominations to significantly expand the number of
Breeders’ Cup eligible horses.
“This is the culmination of a year-long strategic planning process designed
to ensure the Breeders’ Cup continues to thrive and grow as one of the world’s
premier sporting events and as the definitive international event in our sport,”
Breeders’ Cup Chairman William S. Farish Jr said. “Having approved these
strategic recommendations, the Board has tasked the management team with
developing a specific business plan in each of the four areas with a goal of
approving the final plans at our April 2010 meetings.”
“For 26 years the Breeders’ Cup took one approach. We understand that a new
approach means significant change but the Strategic Planning Committee believed
a new approach is warranted if the property is going to evolve, adapt and grow
in a changing marketplace,” said Satish Sanan, the Breeders’ Cup board member
who chaired of the Strategic Planning Committee.
The Breeders’ Cup has been advised through the strategic planning process by
consultant William Field from the London-based Prospero Strategy.
“We’ve worked with many international sports properties through the years and
the Breeders’ Cup is in a strong position to exploit its unique international
brand position not only to its own benefit but to the benefit of horseracing in
general,” Field said.