Racecourse Media Group chairman Conor Grant used his speech at the Gimcrack Dinner at York Racecourse to urge the sport to make radical changes to secure its future.
A former chief executive of Flutter Entertainment’s UK and Ireland Division and a key figure in the growth of Sky Betting And Gaming prior to that, he focused on three challenges facing the sport, saying: “British racing is at a critical inflection point.
"It is tempting to focus on a narrative of doom, but I do not share that view. Yes, the challenges are real - but so are the solutions. To overcome these challenges, we need stakeholder compromise, empowered leadership, and a clear mandate for change.
“Radical change should be non-negotiable. Doing the same thing repeatedly while expecting different results is as they say, the definition of insanity.”
The first point was the sport’s relationship with bookmakers and Grant argued: “We need to re-engage with bookmakers by demonstrating that racing is serious about growing its audience and putting innovation at the heart of the sport.
"Initiatives such as the Sunday Series and Jockeys' Cup are positive examples of how we can make progress. We need to partner more with bookmaking to collaborate and develop joint initiatives that create new innovative products tailored to our sport, which modernise the betting experience and appeal to younger audiences.
“Ask yourself: when was the last truly innovative product racing introduced? To thrive, we must create products and experiences that are compelling, affordable, and relevant to both bookmakers and customers alike.
“Bookmakers excel at engaging their audiences as they operate in an incredibly competitive landscape. We need to work with them on shared audience development to co-market racing to younger demographics to increase engagement. It is vital we offer flexibility in fixtures and content that maximises - revenue potential. We must do all this whilst ensuring racing offers a value for money product. Fundamentally we must position racing as a differentiator.
“Racing needs bookmakers, they are critical for funding, audience reach, and product innovation. We need to demonstrate why racing content is important and show how it provides a unique and differentiated product. Developing shared goals with bookmakers will create a long-term sustainable income that is vital for our sport. Building a relationship that focuses on long-term growth, not short-term profit maximisation at the expense of each other will be mutually beneficial.”
The second revolved around the sport’s current governance structure which Grant described as “not fit for the 21st century”.
He said: “Racing's decision-making is spread across multiple bodies, leading to a lack of clear direction. Decision-making is slow, complex, and often paralysed by self-interest. Every stakeholder wants a seat at the decision-making table, but this results in inefficiency and a lack of accountability. Let me pose another question: Who is responsible for promoting the sport and growing the customer base? There is a lack of accountability and its often unclear who is responsible for promoting racing, driving customer engagement, or even implementing key changes.
“The current setup dilutes responsibility. Fixture planning and innovation are stymied by competing interest, leading to stakeholders often prioritising their own interests, creating friction and delays in decisions. Incremental fixes or compromised solutions are prioritised over systemic change, resulting in a piecemeal approach that fails to address the root issues.
“Opportunity for modernising Racing - we need a streamlined governance model that empowers a re-energised and restructured British Horseracing Authority (BHA) to lead with a clear vision and strategic plan. The BHA must be given both the financial resources and the mandate to deliver transformative change.
“Without bold action and a united blueprint for the future, we risk falling further behind. Give the BHA a clear mandate to promote the sport, innovate, and make decisions. Equip leadership with the people and tools needed to execute long-term strategies. There are significant lessons to be learned from other sports. The Premier League centralised decision-making which has allowed it to thrive globally, with strong commercial strategies and streamlined governance.
“Formula one was a heritage sport, that was seen as the preserve of the elite, and it has been reimagined and reinvigorated in recent years. It was transformed through a combination of visionary leadership and a focus on entertainment value and making the sport more accessible. Matchroom have similarly transformed Boxing and darts. The common denominators here are empowered decision-makers and streamlined governance.
“It is vital we align stakeholder interests, and you can only do that by having strategic goals that everyone knows will grow the sport. If we introduce mechanisms to ensure that all stakeholders work towards common goals, such as shared financial incentives for growth in attendance, betting, and ownership – we will have a much healthier sport.
“Racing governance must evolve to mirror corporate Britian No individual should be allowed to sit on multiple committees, and strict standards must be enforced to eliminate conflicts of interest, particularly when investing in companies that directly profit from racing. Racing needs a modern governance model that can make bold, decisive moves to secure its future. Without change, the sport risks becoming obsolete in a fast-moving, consumer-driven leisure market.”
The final challenge involved consumer engagement, an area where Grant feels there is scope for significant growth.
“Consumer engagement is not just about marketing the sport; it requires a systematic reimagining of racing as a modern, relevant, and inclusive leisure activity. To secure our future, we must reimagine how racing engages with consumers across four key touchpoints: watching, betting, attending, and ownership. The sport can attract new fans while deepening the connection with its existing audience. This is about reshaping how racing fits into modern society.
“We need to create a fan engagement strategy which puts the consumer to the fore of racing across all touchpoints and addresses current gaps. We need collective investment in a centre of excellence to drive engagement across the consumer touchpoints of watching, betting, attending, and ownership. A detailed understanding of our existing and potential audiences is essential. This includes addressing concerns about welfare, affordability, and relevance. Racing is a sport enjoyed by millions, and by leveraging our social license, we can inspire the next generation of fans and secure a vibrant future. We need to focus on accessibility and simplify the ways fans can engage, from affordable ownership options to easy streaming of races. Innovation should be at the heart of this engagement strategy.
“To broaden the sports fan base, we need to invest in research and data to gain a deeper understanding of why fans engage with racing and why some reject it? Using these insights, we can tailor marketing campaigns and reshape racing’s image. We have an opportunity to utilise partnerships to broaden reach, collaborating with media and streaming platforms, and partner with influencers, jockeys, and trainers who resonate with younger demographics to promote racing.
"Racing is an emotional rollercoaster and could provide the most compelling content. This will be alien to many in the room but for a new younger audience, jockey’s dancing in the weighing room, or fashion at the races will engage far more than horses fighting out the finish of a race. There is so much to learn from other sports about consumer engagement. We really need to lift our heads above the racing parapet."
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