Breeders’ Cup Ltd. President and Chief Executive Officer Greg Avioli resigned
Friday to take a new position as President and CEO of the racing and gaming
division of MI Developments. Breeders’ Cup has called a meeting of the board
early next week to discuss interim leadership and steps to be taken to identify
the organization’s next CEO, said Breeders’ Cup Chairman Bill Farish.
Avioli leaves the Breeders’ Cup after nearly five years as the organization’s
chief executive. He led the Breeders’ Cup through major changes to the
organization and its signature event, the Breeders’ Cup World Championships,
including its expansion from eight races on one day to 14 races over two days,
and the formation of the international Breeders’ Cup Challenge series of
official qualifying races. Wagering, attendance, revenue and television ratings
increased during Avioli’s term as chief executive, capped by the success of the
2010 championships at Churchill Downs.
“During a time when our industry on the whole was experiencing difficult
economics, Greg played an integral role in making the Breeders’ Cup a stronger
property and organization,” Farish said. “On behalf of the Breeders’ Cup board,
we thank Greg for his significant contributions and wish him all the best in his
future endeavors.”
“With any decision like this there is the excitement of the new challenges
ahead as well as deep appreciation for the opportunity that Bill and the
Breeders’ Cup board have given me over the last few years,” Avioli said. “I’m
very proud of the team that we’ve assembled and what we’ve been able to
accomplish together. I wish continued success to the Breeders’ Cup, its
management, its staff and especially the nominators whose long-time support
helped build the Breeders’ Cup to what it is today.”
“The board looks forward to identifying a new CEO that can continue to grow
the property and fulfill its mission in support of breeders and the industry,”
Farish said. “In the interim, the board will be working closely with Breeders’
Cup’s management team through this transition.”