BHA Blog: 2027 Fixture List

With the 2027 fixture list due to be published in the coming days, BHA Director of Racing Richard Wayman sets out the policies guiding its composition and his hopes for how it can support British racing’s agenda for growth across a range of key areas.

Putting together the fixture list is almost certainly the biggest and most consequential task for my colleagues in the BHA’s Racing department each year and, given its significance to the sport’s overall health and performance, it is something that invariably brings about a range of strong opinions from everybody who cares about racing.

Its impact on so many of the sport’s vital statistics is of particular focus at this time, with racing renewing its commitment to a clear growth strategy. Growing the sport will only be achieved through building a connected system; an integrated racing strategy and focus on our customers, whilst continually improving horse welfare, developing our skilled workforce and supporting advancements in regulation, sustainability and technology.

The process

Each year, the sport’s leaders agree the fixture list policy, setting out the governing principles that ultimately lead to the production of the final fixture list. This process always involves balancing commercial considerations with the impact of staging the number of intended races from the perspective of competitiveness levels and, as a result, the sport’s wider appeal to the public, alongside the capacity of our participants and workforce to service it.

This was a particularly challenging discussion for 2027 because, since the pandemic, we have seen our horse population declining, falling by between one and two per cent each year. The key questions, therefore, were what size of fixture list could be serviced by our horse population and how can that fixture list help us to achieve our aims as we seek to stabilise this decline and, over time, to recover.

Whether we are talking about the foal crop or the number of horses in training, addressing this troubling trend is essential for the long-term health of our sport. Indeed, a shared desire to fuel growth in the sport has resulted in the fixture list you will see next week.

The 2027 Fixture List

At the time of writing, we are still putting the final touches to the 2027 fixture list but we expect that it will include approximately 1,440 fixtures, which is 18 fewer than in 2026. That said, the total number of programmed races will remain similar. This is due to racecourses taking the opportunity to defer a fixture date, whilst re-distributing the races from that fixture across their remaining programme. This provides a number of benefits, including reducing the number of 6-race cards for racegoers and offering some efficiency savings for participants. However, I understand that the decision not to reduce the volume of racing run in 2027 will cause much debate and so it is important that I explain how, after much deliberation, we reached this decision.

On the face of it, cutting the number of fixtures and races in 2027 would appear an obvious step to take given the declining horse numbers and our desire to provide fans with consistently competitive and engaging racing. Detailed modelling was produced which forecasts the number of horses we expect to see on our racecourses in the years ahead and I know that everybody understands that horse numbers cannot just be increased overnight.

Financial projections were also produced, however, showing how the sport’s major revenue streams – namely, media rights and levy – would be hit by several million pounds as a direct result of a significant reduction in fixtures or races. Of course, this would be at the same time as when those revenue streams are under much pressure as a result of falling betting turnover, itself linked to, amongst other things, the introduction of financial risk assessments and the associated loss of bettors to the black market.

Initiatives designed to incentivise the breeding, owning, training and racing of horses in Britain require long-term investment. Some of those initiatives have been announced and are already under way; others are currently being developed. However, it is inescapable that, at least for the time being, the key revenue streams that provide that investment are inextricably linked to the volume of fixtures and races that we run each year.

We already know that different parties across the sport have a different view on whether the 2027 fixture list should have been cut. Primarily with customers in mind, some have argued for a contraction even though that would mean less money coming into the sport, at least in the immediate term. Others, meanwhile, believe that we should prioritise income levels, and therefore prize money, to avoid a further decline in racehorse ownership, even though that means field sizes are likely to remain under pressure at times of the year,

In the end and after considerable debate, the BHA Board concluded that the sport’s interests would be best served by seeking to support prize money and our long-term growth agenda, meaning, therefore, the volume of racing would remain largely unchanged in 2027.

It is too early to say what this means for 2028 and beyond, but I know that developing a new approach that moves away from the traditional annual fixture process to something that plans further ahead is high on the agenda of our incoming Chair, Simon Cox. I am confident that is something that all parties across the sport would support.

Continuing the work

It is important to say this this wasn’t an easy decision and I respect the fact that some will speak out in the days ahead to disagree with the approach taken. However, it does now mean we can continue our work towards underpinning the sustainability of breeding, owning, training and racing in Britain. As part of this, a package of measures designed to incentivise breeding, owning, training and running of horses here in Britain from 2027 have been submitted to the Levy Board for consideration this autumn. These measures, which have been developed over several months by various parties across the sport, including the High-Quality Horse Group, was presented to the Levy Board in July, with funding decisions to be taken at their next meeting in September.

If successful, this would build on the £4.4 million of additional funding the Levy Board approved at this time last year, allowing us to improve prize money and introduce initiatives aimed at strengthening our racing and breeding.

In 2026, recognising the essential role played by developmental races both in terms of nurturing talent and supporting domestic breeding, we introduced a £3.2 million prize money boost across the programme. Unlike in the past, these races are now run at prize money levels that are competitive with our closest international rivals. Moreover, they provide an early opportunity for owners to get a return on their investment, which can be boosted still further by some of the bonus schemes now in place such as GBB, which pays out nearly £6m each year in bonuses.

Last November, the GB Pointing Bonus Scheme began as a tool to strengthen what is a key pipeline and developing ground for quality horses to progress to race under Rules in Britain. This bonus totals £25,000 for a British-bred horse and is paid to owners when their horse wins an eligible race under Rules, as long as the horse is trained in Britain at the time of winning.

The popular Go North Series saw its series finals run for increased values in 2026, with each race worth at least £40,000, and increase from £30,000 in 2025. This will rise to £45,000 in 2027 and £50,000 in 2028.

We sought to support Britain’s Jumps trainers – and underpin the quality of jump racing that fans rightly demand – with the introduction of the Training Fees Credit Scheme, which saw the owners of winning and placed horses in Grade 1 Chase and Hurdle races in the spring rewarded with credit towards placing a new horse in training in Britain. The successful owners are currently registering new horses ahead of the coming season, with the vouchers contributing to the training fees of those horses.

The Elite NH Mares’ Scheme was also boosted this year, with an additional £100,000 to increase grants for mares and widen access to mid- to upper-tier British NH stallions, potentially increasing the quality of their progeny. Alongside wider improvements to the mares’ race programme, this scheme has contributed to a marked increase in the number of elite Jump broodmares in Britain, from 150 a decade ago to more than 300 now.

On the Flat, the Levy Board supported a joint venture with four host racecourses or racecourse groups – Ascot, Jockey Club Racecourses, Goodwood and York – to match-fund enhanced investment in four of Britain’s most high-profile races – the July Cup, Sussex, King George and International Stakes. In most cases, the racecourses were incentivised further to increase that investment, resulting in prize funds that generated unprecedented international participation and a summer of enhanced fan engagement.

All of these initiatives were introduced with the goal of delivering long-term growth for the sport and that is what we must continue if we are to reinvigorate the horse population in Britain and the health of the sport.

The proposals for 2027 include some initiatives which have a longer-term perspective, but also some which will have a more immediate, short-term impact, investing in our sport and participants and increasing their financial returns. Subject to the Levy Board’s approval, I look forward to setting out in detail what they are and how they will work in the coming weeks.

Ultimately our aim is to invest in British racing. Our vision is for a thriving, growing sport. We have already seen six consecutive quarters of attendance increases which shows that our sport is capable of capturing the public interest but we need to back this up in the breeding sheds, in the stables and on the track. This is going to need financial stability, investment and greater returns to our participants.