Matthew Lutz has been named chief financial officer of Breeders’ Cup, the organization announced Oct. 22.
Lutz will oversee finance, accounting, administration, human resources, and information technology. A certified public accountant who earned his MBA at the Columbia Business School, Lutz has been CFO the last seven years at Manhattan Holdings, an international manufacturer and distributor based in Baltimore, Md., according to a release from Breeders' Cup.
The last two years have seen growth for the Breeders’ Cup World Championships, with total purses raised from $14 million to $23 million. Total Breeders’ Cup World Championships wagering in 2006 was an all-time high of $140,332,198.
“As we expand the reach of the Breeders’ Cup and grow the business and the brand in the U.S. and abroad, it’s critical we have the best talent available to achieve our goals,” Breeders’ Cup president Greg Avioli said in a statement. “In addition to his seven years as CFO, Matt has outstanding strategic planning skills, which will be vital to our organization.”