Dec 11, 2009
New Breeders' Cup strategic plan
By: SPORTS NETWORK
Lexington, KY (Sports Network) - Central ideas of a new long-term strategic plan for the Breeders' Cup was approved Friday by the organization's Board of Directors. The plan was voted on during the December meeting of group.
"For 26 years the Breeders' Cup took one approach," said Satish Sanan, the Breeders' Cup board member who chaired the Strategic Planning Committee. "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."
The major points of the strategic plan 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," said Breeders' Cup Chairman William S. Farish, Jr. "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."
During the meeting the board promoted Chief Financial Officer Matthew Lutz to the position of Chief Operating Officer/CFO. Lutz originally joined the Breeders' Cup in November, 2007.
The board also reviewed results of the 26th Breeders' Cup World Championships at Santa Anita.
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