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Great British Racing is the new name of racing's promotional and marketing arm, continuing the work initiated by Racing For Change.
RFC was set up four years ago with a brief to broaden the sport's appeal and tackle some of the issues facing an industry which was paying for television coverage while contending with little public interest.
However, with a new TV deal in place, attendances on the rise and some major sponsorship agreements from the likes of Qipco and Investec in places, Great British Racing will now assume RFC's responsibilities.
The organisation will also take charge of the marketing of British racing globally, with the aim of broadening the appeal of the sport at every level, with the objective of increasing participation and revenues, and protecting and growing the thousands of jobs that exist within the sport.
Rod Street, chief executive of Racing Enterprises Limited and British Champions Series Limited, led the RFC initiative and will head up the new outfit.
Due to the changes in the rebranding exercise, British Bloodstock Marketing, which handled international promotions in the past, will cease to exist, with the recruitment process already under way for a senior executive to lead the role.
Chris McFadden, Chairman of Racing Enterprises Limited said: "As the sport has evolved, so too, has Racing For Change.
"First introduced as a project, it is now seen as an essential central promotional organisation, mirroring similar permanent organisations in other major sports.
"In this day and age, no national sport can hope to survive without a long-term strategy for growth, or without a national resource to market and promote it.
"Now, as Racing For Change moves to become a permanent entity, it makes sense to give it a title that communicates its promotional role to the wider world.
"Great British Racing's remit will be to continue the widening of the sport's fan base, helping to grow its revenue streams, and maintaining British racing's position internationally as the best in the world."
British Horseracing Authority chairman Paul Roy added: "There is no doubt that British racing has come a long way in four years and it still has a long way to go.
"We're confident that Great British Racing can help the sport to reach wider audiences, continue to innovate and provide our sport with a more secure future from which to grow."