The British Horseracing Authority (BHA) is embarking on a bold journey to rejuvenate horseracing through innovative changes in its 2024 Fixture List. Richard Wayman, BHA’s Chief Operating Officer (COO), recently shared insights into the proposed alterations aimed at enhancing the sport and engaging fans and bettors.
The Need for Innovation:
Wayman emphasizes the necessity of innovation in the fixture list, as horseracing faces several concerning trends, such as declining attendance, reduced betting, owner challenges, and race competitiveness issues. These challenges serve as the backdrop for BHA’s proactive approach to revitalizing the sport.
Key Proposals:
BHA’s proposals are centered around using headline events to boost interest in horseracing, optimizing Sunday fixtures, and improving the competitiveness of races. The goal is to address the declining trends and usher in a new era for the sport.
Measuring Effectiveness:
The decision to implement changes through a two-year trial period is motivated by two key factors. First, it allows for the opportunity to refine and enhance the proposed changes during the initial period. Second, it provides the flexibility to discontinue strategies that prove ineffective, ensuring a dynamic approach to improvement.
Financial Impact:
Wayman anticipates that the proposed changes will have a positive financial impact on horseracing, with an estimated improvement of £90 million ($103 million) over five years, including a £6 million increase by the end of 2024. These financial improvements are a vital aspect of BHA’s strategy to ensure the sustainability of the sport.
Fixture List Restructuring:
The proposed changes include spreading fixtures on Saturdays to accommodate wider betting windows, as well as introducing a new betting session on Sunday evenings. These adjustments aim to make horseracing more accessible and engaging for fans and bettors.
Investing in Premier Fixtures:
To combat the decline in race attendance, BHA plans to invest in premier fixtures, with the objective of increasing attendance by 10%. This investment in quality events underscores the commitment to enhancing the overall horseracing experience.
Transparency and Accountability:
Wayman highlights BHA’s exceptional level of transparency by setting detailed Key Performance Indicators (KPIs) for the industry. This dedication to openness ensures accountability and serves as a model for other sports organizations to follow.
Interrelated Targets:
Each target within BHA’s strategy is interconnected, and no measure will be evaluated in isolation as a simple “pass or fail.” The success of the strategy hinges on the collective impact of various objectives, reinforcing the complexity of revitalizing the sport.
Innovative Initiatives:
In addition to the proposed changes, BHA has already initiated exciting collaborations, such as the Middle Distance Veterans’ Series in partnership with Unibet. This series caters to 10, 11, and 12-year-old horses, showcasing a commitment to inclusivity and diversity in horseracing.
The 2024 Fixture List by the British Horseracing Authority represents a comprehensive strategy to revitalize the sport. With a focus on innovation, transparency, and financial sustainability, the BHA is poised to lead the way in ensuring the long-term success of British horseracing. The proposed changes and initiatives, along with a commitment to measurement and adaptability, demonstrate a proactive approach to securing the sport’s future.