Promotional organizations with the major European racing nations will be joining forces to attract global investment into the European racing and bloodstock industry.
Irish Thoroughbred Marketing (ITM), Great British Racing International (GBRI), and the French Racing & Breeding Committee (FRBC) have formed a strategic alliance to promote Europe as the premier region in which to breed, buy and race top-class Thoroughbreds.
"The world may be becoming a smaller place, but equally the horseracing industry is expanding all the time and we look forward to working together with ITM and the FRBC to draw international investment in our sport in Europe," said GBRI's international executive Carter Carnegie.
It is the first time the three organizations, traditionally seen as competitors, have worked together. The alliance is being called groundbreaking by the organizations and being hailed as a positive step in capitalizing on the strong performances of European horses around the world.
"We are very excited about this project; racing is now a truly global sport and business and we want to extend our reach to the four corners of the globe," said Elaine Hatton, ITM's general manager. "This alliance will also add further strength to our organizations' activities."
In 2013 the richest turf races run in the United States, Canada, Australia, Dubai, Singapore, Hong Kong, France, Britain and Ireland were all won by horses bred in Europe, which is the message the alliance intends to spread, according to a release.
The three organizations will remain focused on promoting the worth of their respective nations as leading sources of quality bloodstock but it is envisioned the cooperative venture will create competitive advantages unique to each country when targeting investors further afield, the groups' release said.
"We look forward to working together at a European level, and I am sure we can make an impact and achieve greater promotion of horseracing's cradle," said Capucine Houel, FRBC executive director. "Europe offers a wide range of opportunities in breeding and racing and our role will be to state it loud and clear."