Former Liberty Media president Greg Maffei is seeking $30 million to launch the Horse Racing League (HRL) next February. The new venture borrows Formula 1’s fan‑engagement model, aiming to attract younger audiences and bettors with team‑based competition.

HRL will field 10 teams of eight horses, trainers and jockeys, each led by a team principal. Godolphin has committed $6 million to buy a team, and other founding owners include Win Star Farm, Vinnie Viola and Gary Barber. The league plans a prize pool exceeding $10 million and an NFL‑style draft of 80 horses.

Revenue will come from sponsorships, betting, merchandise, hospitality and media rights, targeting the 24 million viewers of the Kentucky Derby. HRL’s launch could reshape the lucrative U.S. horse‑racing market by introducing a new fan‑centric, televised product.

For investors, the deal signals a high‑growth niche within sports entertainment, offering exposure to betting‑related revenues and potential media‑rights deals. For sports executives, it showcases how cross‑sport storytelling can unlock fresh revenue streams and broaden legacy sports’ appeal.