NBC will continue to be the television home for the marquee events in horse racing, as the network announced on Wednesday a deal with Breeders’ Cup Limited to broadcast the Breeders’ Cup World Championships on its platforms through 2030. This year, NBC will provide 3.5 hours of live coverage during the races, with additional live coverage from USA Network and Peacock.
NBC Sports has aired the Breeders’ Cup every year since 2012 and will have hosted 41 out of 47 Breeders’ Cup World Championships by the end of this agreement in 2030. NBC is also the home of the first two legs of horse racing’s Triple Crown, the Kentucky Derby and Preakness Stakes. Recently, Fox began airing the Belmont Stakes, the third leg of the Triple Crown, following an 8-year agreement starting in 2023, previously holding all of horse racing’s premier assets. Fox Sports also broadcasts a significant amount of the sport’s day-to-day coverage through America’s Day at the Races on FS2.
Wednesday’s announcement has intriguing implications for NBC Sports beyond horse racing. With NBCUniversal planning to spin off most of its cable assets this year, including USA Network, the timing of this agreement raises questions. The Breeders’ Cup is scheduled for October 31 and November 1, and by that time, USA Network may be operating independently from NBC. However, USA has already been included in this deal. NBC Sports executive Rick Cordella stated last year that the network would “fulfill every obligation” to its partners regardless of network status, making it particularly interesting that NBC negotiated this deal knowing the channel’s upcoming separation.
It’s possible that USA’s involvement will be limited to this year, which may imply that NBC’s spinoff could be delayed until late 2025. Regardless, the details of the announcement are noteworthy. Returning to horse racing, this agreement solidifies NBC’s position as the leading broadcaster of the sport’s premier events for the foreseeable future. The network has a media rights deal for the Kentucky Derby through 2032; however, the future of the Preakness Stakes remains uncertain. According to Puck’s John Ourand, NBC’s agreement for the Preakness lasts until 2025, but the race is in a precarious situation as more trainers choose to skip it due to the tight schedule following the Derby, contributing to the ambiguity around its media rights future—it is likely NBC will retain these rights if they choose to pursue them.
Regardless of the Preakness’s future, it’s clear that NBC is optimistic about the future of horse racing and is committed to its partnership with the sport for years ahead.
