In a move which ushers in a new era of true globalization in horse racing, Breeders' Cup and the Hong Kong Jockey Club announced a new partnership on Friday. The first stage of this new marketing strategy is the inclusion of the Champions Mile (G1) in the new Breeders' Cup Challenge "Win and You're In" program. It is the first non-U.S. race to be included in the new Challenge, which was just announced in November. Any horse that wins a Challenge race receives an immediate berth in the respective Breeders' Cup race, in this case the Netjets Breeders' Cup Mile (G1) on October 27 at Monmouth Park. The goal of Breeders' Cup is to eventually include 8 to 10 international races in the Challenge, but the Hong Kong race will be the only foreign race in the 2007 edition.
The Champions Mile is on April 29, run at 1600 meters over the Sha Tin turf course and is already part of an international racing series, the Asian Mile Challenge, which comprises the Futurity in Australia, the Dubai Duty Free, the Champions Mile, and the Yasuda Kinen in Japan, all Group 1. Two-time Champions Mile winner Bullish Luck earned a $1 million bonus for also winning the Yasuda Kinen.
HKJC chairman John Chan welcomed the news Saying, "It is one of the greatest compliments yet paid to the continued rising quality of Hong Kong racing that two of our signature international races are to tie in with the Breeders' Cup. We are very proud and delighted to have reached a strategic partnership that also strengthens Hong Kong's position at the cutting edge of international racing."
Breeders' Cup chairman Bill Farish added, "The Breeders' Cup World Championships attracts the very best Thoroughbreds from around the world. Extending the Breeders' Cup Challenge to some of the top international races is a natural development of the Breeders' Cup Challenge. We are excited to welcome the Hong Kong Jockey Club Champions Mile the first international race under the Breeders' Cup Challenge banner in 2007."
The second stage of the promotion involves wagering. The Hong Kong Jockey Club is Hong Kong's only authorized operator of horse Racing, realized through a unique not-for-profit business model whereby surpluses go to charitable and community projects. As a result, Hong Kong residents are only allowed to wager on local races. This year, for the first time, Hong Kong Jockey Club will accept wagering on the Breeders' Cup World Championships and advertise and promote the event to its account holders. Hong Kong residents will be betting directly into the global commingled pool just as bettors in Canada and Europe already do, which will easily push this year's handle to a new record. Hong Kong already claims some of the heaviest action in the world for its local product. North American bettors can already place bets on Hong Kong races, which are televised on TVG, HRTV, and Canada's HPI-TV. The two parties will also conduct joint marketing and cross-promotional programs to be developed in the coming months.
Breeders' Cup president Greg Avioli said, "One of the primary areas of future growth for the Breeders' Cup is the international wagering market and Hong Kong is a lynchpin of that Growth. We look forward to marketing the Breeders' Cup World Championships to the enthusiastic racing fans in Hong Kong, in particular, and to other markets in Asia."
Winfried Engelbrecht-Bresges, the CEO of the HKJC, said "Racing's future lies in its globalization and it is vital that we promote it as a sport that transcends local borders. This landmark agreement link between the Club and Breeders' Cup Limited will have two immediate and very positive benefits: it will enhance international competition on the racetrack and deepen commingled betting pools off it. It is also very important to establish links with million-dollar prize money incentives between some of the world's greatest Mile races, two of which are highlights at the end of season world championships in North America and Hong Kong."
