They are sports driven by gambling dollars and the big event, and they have spent years trying to reconnect with the heyday of the past. Saturday boxing, in the form of Manny Pacquaio and Shane Mosley’s title bout, and horse racing, with the Kentucky Derby, will again take center stage in sports and try and use these elite events to resurrect their businesses. Can they?
Well the good news is that despite the alphabet soup of governance, the fractured leadership, and the migration to other sports by the casual fan, both sports remain on the edge of the public eye, and both have tremendous untold stories, especially in the markets that are growing fastest in this country, Hispanic and African American. They also both have the looming issue of gambling, both positive and negative, that can draw both ire and interest from the public and the media. Tainted sports? Yes. An upside for brands looking to engage or leadership willing to consolidate? Absolutely. Now boxing seems to be making the biggest strides towards resurrection. Promoters like Top Rank and Golden Boy have looked to professionalize their business sides, taking chances on new marketing partnerships (Top Rank’s cross promotion of the fight tonight with CBS is a great example, chronicled by the Sports Business Journal this week) and non-traditional ways to promote in an effort to use the big fight to lift the overall business. The sport’s violence and the athleticism of its elite fighters always draws a crowd and buzz, and the upsurge in interest in the UFC has actually helped pull boxing back into the brand discussions, which is counter to what many thought would happen with the rise of MMA.
Horse Racing is a different story, but one with solid potential. The horses, the jockeys, the owners, the tradition still remain largely untold outside of the Triple Crown and the Breeders Cup. Online gambling and an aging population has taken its toll on the tracks, and public funding in once profitable places like New Jersey has dried up a thriving business. There is little activation in the social media space and rumors of corruption always abound. Yet the sport thrives around the world, the excitement of the race and the pageantry of race day still exists, and the upside for thoroughbred racing to combine efforts to better educate fans and capture attention consistently still is very much in play. Maybe not at hundreds of tracks 365 days a year, as happened in years past, but certainly with a focused, consistent schedule that makes sense to the casual fan.
Brands will turn out Saturday for both events, as will casual fans on site and watching on TV. NBC’s consolidation of the Triple Crown makes great sense, and a younger, more savvy group of owners in horse racing can help drive change and consistency there as well. Both sports have opportunity…again…and at their core they are understood by the casual fan. What is needed is 21st century marketing and branding on a consistent level that uses the big event to drive the growth of the sport. Will it happen? Time will tell, as will leadership. Regardless it should be a great day of viewing.