Breeders' Cup

The Breeders' Cup World Championships is an annual series of Grade I Thoroughbred horse races, operated by Breeders' Cup Limited, a company formed in 1982. From its inception in 1984 through 2006, it was a single-day event; starting in 2007, it expanded to two days. All sites have been in the United States, except in 1996, when the races were at the Woodbine Racetrack in Canada.

The attendance at the Breeders' Cup varies, depending mainly on the capacity of the host track. Santa Anita Park set the highest two-day attendance figure of 118,484 in 2016. The lowest two-day attendance was 69,584 in 2007 at Monmouth Park. The attendance typically only trails the Kentucky Derby, the Preakness Stakes and the Kentucky Oaks (and in some years, the Belmont Stakes); for more information see American Thoroughbred racing top attended events.

With the addition of three races for 2008, a total of $25.5 million was awarded over the two days, up from $23 million in 2007. With the subsequent removal of two races, the purses for the remaining thirteen races totaled $24.5 million in 2014, plus awards for foal and stallion nominators. Prior to the 2016 running, the total purses were raised from $26 million to $28 million. The purse of the Classic was raised from $5 million to $6 million, and the purse of the Longines Turf was increased from $3 million to $4 million. In 2018, total prizes and awards were increased to over $30 million after another race, the Juvenile Turf Sprint, was added and the purse for the Sprint was increased to $2 million.

Each Breeders' Cup race presents four Breeders' Cup trophies to the connections of the winner and a garland of flowers draped over the withers of the winning horse. Many Breeders' Cup winners will go on to win the Eclipse Award in their respective division. For example, of the eleven flat racehorse categories, seven of the Eclipse winners in 2015 had also won a Breeders' Cup race, while three others were in the money.

In the 2015 listing of the International Federation of Horseracing Authorities (IFHA), three Breeders' Cup races are ranked among the top Grade 1 races in the world: the Classic (4th), the Turf (10th) and the Mile (12th). The Distaff is ranked second among the top Grade 1 races for fillies and mares.

History

1980s-1990s: Founding, early races

The event was created as a year-end championship for North American Thoroughbred racing, and also attracts top horses from other parts of the world, especially Europe. The idea for the Breeders' Cup was proposed at the 1982 awards luncheon for the Kentucky Derby Festival by pet food heir John R. Gaines (1928–2005), a leading Thoroughbred owner and breeder who wanted to clean up the sport's image. The Cup was initially faced with much skepticism in the racing community, however with the vocal support of legendary trainer John Nerud and others, the Breeders' Cup was carried out, and subsequently experienced tremendous popularity domestically and abroad.

The prize money is largely supported by nomination fees paid by breeders for stallions and the resultant foals. In North America, participating stud farms pay an annual nomination fee for a given stallions that is equal to the stallion's advertised stud fee, plus an additional amount if the stallion has more than 50 foals in a given year. The cost to nominate a European stallion is 50% of their stud fee, while the nomination fee for a South American stallion is 25% of their stud fee. In North America, the breeders of the resultant foals must also pay a one-time nomination fee (currently $400) by October 15 of the year of birth.

The races are operated by Breeders' Cup Limited, a company formed in 1982. The first event was in 1984. From its inception in 1984 through 2006, it was a single-day event; starting in 2007, it expanded to two days. All sites have been in the United States, except in 1996, when the races were at the Woodbine Racetrack in Canada.

2000–09: Expansion

In 2006 Greg Avioli began serving as interim President and CEO of the Breeders' Cup, and he became the official CEO in April 2007. "This is an exciting time for the Breeders' Cup", said Avioli. "We will continue to focus on growing the international market for our championships, creating a successful two-day event and promoting the Breeders' Cup brand with both our television and sponsorship partners." In 2007, the event was expanded from one to two days and in 2008, the first day was devoted to female horses and the overall purse increased to over $25 million, making it what the ''New York Post'' called "the richest turf festival in the world."
Before the Breeders' Cup expanded to two days, it was generally considered to be the richest day in sports. Beginning in 2008, the second day of the Breeders' Cup became the second-richest. In 2008, a total of $17 million was awarded on that day, down from $20 million in 2007 (two races were moved from Day 2 to Day 1). The richest single day in sports is now another Thoroughbred racing event, Dubai World Cup Night. It features six races with a combined purse of $21 million in 2008. In 2008, the Breeders' Cup Marathon was added but was dropped in April 2014. 2008 also marked the first time most of the races were run on an artificial surface, instead of the traditional dirt.

On August 11, 2009, the Breeders' Cup announced that it would use the standard colored saddle towel system starting with the 2009 event. The new color-coded system (which has been used at many North American racetracks since the mid-1990s) replaces the standard purple saddle towels which had been used since 1985. The first Breeders' Cup in 1984 used yellow saddle towels.

On October 22, 2009, the Breeders' Cup announced it had signed simulcasting and licensing agreements with Betfair,
a company which in turn had purchased the horse-racing network TVG in January of that year. The agreement brought in Betfair's customer base of over 2.5 million, many of whom had legal access to common-pool betting.
Betfair handled common-pool wagering at the organization's November 2009 championships, also streaming the events live to both national and international wagerers for the first time. At that point, the World Championship event was being telecast in over 140 countries, through various networks.

Breeders' Cup also introduced the Breeders' Cup Challenge "Win and You're In" qualifying system, a policy wherein winners of major races throughout the year, from North America, England, Ireland, France, Hong Kong, Japan, South Africa, Australia would gain automatic access to the Breeders' Cup Championships races. Profits for 2010 were the highest in the organization's history, with wagering (both pari-mutuel and non-pari-mutuel) in 2010 nearing $200 million, or $21 million more than the previous year. Over $23 million of the non-pari-mutuel was wagered over Betfair.

2010–19: Recent years

In 2011, the organization appointed Craig R. Fravel as CEO and President, a role he will be leaving after the 2019 event to head the racing operations of the Stronach Group

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