With the first Racing League fixture taking place at Newcastle on Thursday evening, it is not at all surprising to see the individuals involved becoming increasingly vocal in their support for the enterprise. But I have been surprised to see how unwilling those behind the concept have been to embrace scrutiny or engage with those who have criticised the way it has been implemented.
It is perfectly acceptable to criticise/question a concept without wishing it to fail; to hope that this is the catalyst for innovative change that we have all been waiting for, but to simultaneously suggest that it is flawed in it’s current guise.
“I’m trying to remain open-minded regarding the Racing League.” I stated on Twitter earlier this week. “But it’s hard not to agree with @GrantTuerRacing.” Even if by circumstance, rather than specifically by design, the exclusive nature of the inaugural Racing League is going to leave a foul taste in the mouths of many who could not/did not get involved. His concern that owners will be tempted to remove horses from smaller trainers in order to make them eligible to run in the league is a significant concern and a very real possibility if it’s criteria remains the same in the longer-term.
My own questions have concerned the funding of the business – more specifically how it is going to pay for itself. They have raised the money themselves, but are obviously hoping to make that back and return a profit.
I was very enthusiastic about the concept when it first emerged and had (admittedly very optimistic) visions of sponsors such as Red Bull, Rolex and Porsche – brands synonymous with other sports – being persuaded to become involved. I understand that any new sponsors to racing should be welcomed with open arms, but it is impossible to suggest that the 13 brands the Racing League has managed to sign were anywhere near the top of their list of desired sponsors. ‘Remulate’ joined Twitter this month and, at the time of writing this, has 7 followers. ‘Swish Cocktails’ is a trading name of The Breeze Drinks Company Ltd. The company was only incorporated on 16th April 2021 and again only joined Twitter this month. At the time of writing this, the account has 19 followers.
Clearly, recruiting sponsors was more of a challenge than those behind the business had hoped it would be; such sponsors are certainly not making a significant dent in Racing League’s multi-million pound investment. But when questioned on how financially disappointing this had been for the company, we have been told to trust in the “several revenue streams” that the format possesses. As far as I can see, there are two reasons to be so deliberately vague:
1) They do not really have a clue themselves and this could potentially turn into a disaster very quickly.
Or
2) They forecast yielding a much higher level of profit than they would care to admit.
I understand the argument that it is their business and their money, but the success or failure of the Racing League has knock-on effects for the whole industry. Owners and trainers will be wanting to make long-term plans based on the viability/longevity of the concept; they deserve greater transparency. Does Racing League need to return a profit this year in order to return in 2022? If so, what level of success will be required to achieve this? If not, what level of success will need to be achieved to guarantee a second season? How will that success by measured?
If the product is as good as they think it is, the fact that so many owners and trainers have come out against it would suggest that Racing League have done a very poor job of selling their concept. Indeed, a lot of the debate on social media yesterday evening revolved around whether trainers received a letter or not. Surely such an “exciting innovation” with a substantial marketing budget, could and should have done more to engage with the individuals and organisations that it was looking to partner with.
Racing League’s Chief Marketing Officer, Oli Harris, re-tweeted Countdown’s Susie Dent this morning:
“Word of the day is ‘philodox’: one who is in love with their own opinion, and who consequently believes that everyone else should share it.”
He added his own quote:
“Have seen a few of these in the last week or so.”
If I was him, I would be keen to hear as many opinions as possible this week – especially on Thursday evening; I hope that constructive feedback is taken on board. Let us hope that, if the Racing League proves to be a commercially viable concept, it can thrive and use any success to build a platform from which it can extend it’s relationship with the sport to include the owners and trainers that feel they have been overlooked this time around. I wish everyone taking part the very best of luck.
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