Horseracing sees financial boost from American Pharoah’s success

Interest in horseracing has swelled due to the success of Triple Crown winner American Pharoah, who will vie for the sport's first Grand Slam title on Oct. 31.

A Grand Slam title is a new pinnacle for the sport of horseracing and denotes winning all three races in the Triple Crown series as well as the Breeders’ Cup Classic, the most competitive race in North America. The interest in American Pharoah has propelled horseracing into popular conversation, and has immense financial ramifications on the sport and his final race at the 2015 Breeders’ Cup this weekend.

And the race is on
Held in Lexington, Kentucky, American Pharoah will pursue horseracing’s first-ever Grand Slam title at the 2015 Breeders’ Cup. Equestrian sports have long been associated with affluents, but the success of American Pharoah has rejuvenated the sport for the masses.

Currently, American Pharoah is valued at $100 million. If he wins the Breeders’ Cup Classic, needed for a Grand Slam title, the horse’s value could come close to doubling to $200 million.

With tickets already sold out for the Oct. 31 Breeders’ Cup, it is clear that there is a astonishing interest in seeing if American Pharoah will make horseracing history. The Breeders’ Cup sold a record-breaking $19 million in tickets, $6 million more than any other year in the race’s 32-year history.

While the audience in attendance is important for sponsorship awareness, the television audience also boasts a huge potential given its sheer size. Twenty-two million viewers tuned in to see American Pharoah win the Triple Crown title on June 6.

//

Also, television network NBC reported a 100 percent year-over-year increase in TV ratings for the races American Pharoah competed in over the summer, the Haskell and the Travers Stakes. A similar viewership is expected for the 2015 Breeders’ Cup.

Recently, private aviator Sentient Jet returned to the Cup after a three-year hiatus and will serve as the official private aviation partner for the next few years (see story). Over the summer, while American Pharoah was on the “hooves” of his Triple Crown win, Sentient Jet began promoting VIP packages for the Breeders’ Cup (see story).

Sentient Jet has reported that private jet bookings are up an unprecedented 800 percent for the 2015 Breeders’ Cup compared to year-ago bookings.