Speaking at the British Horseracing Conference 2008, he said: "We need to have more innovative thinking and creativity. You have heard me talk about hosting the Breeders’ Cup here - many of you would say that is impossible because of different regulations, Lasix etc.
"But why not have the ambition? If they are truly serious about turning it into an international event who could do a better job of hosting the Breeders’ Cup than British racing?
"If that doesn’t happen, why shouldn’t we look to create our own horseracing Grand Prix world championship? Look how successful the Order of Merit and the Global Sprint Challenge have been here.
"People love competition and especially if it has got an international flavor. In short, we have to start thinking laterally about this sport."
Earlier during the first annual review presented by the British Horseracing Authority which came into being in July, 2007, the chief executive Nic Coward called for worldwide harmonisation of racing rules and regulations.
He commented: "We need to lead the worldwide harmonisation efforts into what is allowed and what isn’t in terms of substances and techniques.
"Our belief is that we do not have a right to call horseracing a global sport if we cannot get that sorted out."