One of the key figures behind Formula 1 auto racing’s meteoric rise in popularity plans to help launch a team-based horse racing league next season that has drawn many of the sport’s biggest owners, according to a July 9 release.

Maffei (Courtesy of HRL)

That executive, Greg Maffei, the former CEO of Liberty Media, has joined with Skylark founder Danny Epstien to announce the launch of the HRL (Horse Racing League), a new team-based Thoroughbred racing league scheduled to debut in February. The league has attracted major industry players as it says some of its team owners will include Sheikh Mohammed’s Godolphin, Kenny Troutt’s WinStar Farm, and successful horse owners Vinnie Viola, who also owns the NHL’s Florida Panthers; and Gary Barber, a Hollywood executive.

The Financial Times reports Godolphin will make a $6 million investment in the league.

Maffei, who helped lead Liberty Media’s acquisition of Formula 1 and guide that sport’s emergence, sees the same type of potential for horse racing with the league planning 2027 events at Gulfstream Park, Santa Anita Park, and Keeneland. As The Athletic reported in 2024, “Liberty acquired F1 in 2017 and has rapidly grown the series into one of the most popular sporting products in the world, including a particular swell of interest in the United States, which now hosts three races per season.”

Maffei, who previously served as chairman of Live Nation Entertainment, SiriusXM, and Atlanta Braves Holdings, oversaw that F1 transformation before stepping down from the CEO role at Liberty Media in November 2024. He believes Thoroughbred racing in the United States has similar growth potential.

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“Formula 1 demonstrated what can happen when you bring fans to a historic sport in a modern way through storytelling and social media. Horse racing has all the thrilling elements: exciting competition, heritage, drama, glamour, and star power,” said Maffei, currently the CEO of BANN Ventures. “The HRL brings the excitement of teams to follow, dramatic rivalries, high-stakes betting, and a championship that builds race by race.”

Backers believe the success of racing’s biggest days demonstrates that with the proper presentation, more of those casual fans could increase their interest in the sport. The release noted that the Kentucky Derby garnered a record-breaking 24 million viewers in 2026. It said the HRL is designed to sustain and grow that audience by converting casual spectators — those who tune in for a few big-name races each year — into engaged, year-round fans of the sport while adding a fresh dimension for longtime racing enthusiasts.

“By combining elevated race-day experiences, premium hospitality, always-on storytelling, celebrity and brand-owned teams, approachable wagering formats, and partnerships with the world’s most respected and successful Thoroughbred organizations, the HRL aims to attract not only Thoroughbred racing’s global fanbase of 36 million-48 million, but also the adjacent 200 million-attendee live events market and sports fans more broadly,” the release said of the league’s goals.

Marketing

Epstien (Courtesy of HRL)

The HRL plans to apply a similar playbook to American horse racing that was used in promoting F1. Maffei will work in partnership with Epstien, of Skylark, an incubation and investment firm focused on innovative consumer brands, sports, and entertainment.

“We’re excited to see a new concept come to life in our sport, and we know this is the right leadership group to make it a success,” Everett Dobson, chairman of The Jockey Club, said in the release. “We have a common goal to attract new fans and give longtime enthusiasts more exciting experiences. It’s a win for everyone in the industry, from the tracks to the horsemen who make race day happen.”

League Details

Upon launch, the HRL will feature 10 teams competing in a points-driven, season-long championship across three cities: Los Angeles, Miami, and Lexington. The league is in discussions to expand to three additional cities by 2029.

Points will be awarded based on finishing position in each race and accumulate throughout the season to determine the winning team. With a 10-horse field for every race and more than $10 million in purses and end-of-season prizes on the line each year, the HRL said it will offer the structure to deliver consistent, high-stakes horse racing competition that fans can engage with all year long.

“Horse racing already commands one of the largest single-day audiences in American sports,” Viola, founder of Virtu Financial, said in the release. “Investing in a team-based concept designed to carry that momentum across a full season is what makes the HRL so exciting for us.”

“This is a rare opportunity to be a part of something from the ground up in a sport that I am incredibly passionate about,” added Gary Barber, Founder of Spyglass Media Group.

The league’s full slate of teams will be announced in the coming months. The HRL plans to host a live draft event in November 2026 where each team will select eight horses to form its rosters. The draft is designed to create competitive parity across the league while delivering a marquee offseason moment for fans, media, and partners.