Inspired by the cricketing concept of Twenty20, horse racing in Britain now has plans of attracting new audiences to the sport. This is to be a compelling competition, scheduled in 2010 where the year’s champion racehorse will be decided.

This horse race promises 8 million pounds a year with the backing of the country’s leading racecourses and Racing UK. This competition will be known as the Sovereign Series where 10 Group 1 races will be brought together and points given to the first three homes of each group.

It is the horse with the maximum points who is declared the winner of the champion where he earns a handsome prize. There is a prize pool of 2 million pounds offered in the Sovereign Series with three million more as prize money.

About three million will be spent for marketing purposes for the series where the series will be sold to a single terrestrial broadcaster next year. Racing UK will effectively subsidize the series if the event faces tough times. With Racing UK raking in about five million pounds in profits this year, it is strong enough to back the competition.