EXCLUSIVE: Horse racing is being reimagined by the National Thoroughbred League (NTL), and NBA Hall of Famer Julius Erving is among the latest investors in the first-of-its-kind organization.
The NTL announced Thursday that Erving, as well as Country Music Hall of Famer Tanya Tucker, are new team owners ahead of its second season, which will see an expansion from six franchises to 10. Erving will be the owner of the Philadelphia Stallions, while Tucker will own the Nashville Dreams.
For Erving, he views the investment as "common sense" considering what the NTL is trying to do with America’s oldest spectator sport.
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"Once the pitch came and started to talk about racing becoming a team sport versus an individual sport, well, team sport is right up my alley," he told FOX Business. "I’ve been captain of a lot of teams in basketball and been a big fan of racing – gone to the Kentucky Derby more than a dozen times. I’ve been allowed the privilege to start the race one time. So, maybe with this, I can start a few races.
"This will stick like glue, catch on like wildfire, and we’ll all be a part of something that makes sense in terms of excitement, in terms of fan appreciation and in terms of the numbers."
Erving joins the likes of music artists Nelly and Rick Ross, New York Giants edge rusher Kayvon Thibodeaux and many others who see the vision co-founders Randall Lane and Bob Daughtery are putting together in terms of making horse racing a team-based sport that can appeal to everyone.
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"We have 300 years of horse racing in America – it’s the oldest spectator sport in America," Lane explained to FOX Business. "Last year was the first time there was ever teams, and it was meant to bring a lot of what works in every other sport to this amazing American institution. You have teams you can root for, and the goal is to build stars on those teams just like every other spectator sport.
"You see with the Kentucky Derby, the Triple Crown races, the Breeder’s Cup, you have 150,000 people that go to a race and have a great time for a weekend. But nobody can really name any of the horses running, because the great horses, as soon as they win, they’re retired."
Lane added that the general incentive in racing now is to retire those horses who win Triple Crown races instead of running them back like the legends of the past, including Seabiscuit, Secretariat and Man o’ War.
"What we’re doing in building this team-based concept is to let people root for teams, let people root for stars and have these teams run the stars back every year. That gives us a differentiation," Lane said.
Erving, who became a Philadelphia legend during his time with the 76ers, understands more than most how much the "City of Brotherly Love" rallies around a team, which is why he is confident the NTL will do well in his city.
The Philadelphia Cup will be the second of three races this upcoming season in the NTL, as it is set for Oct. 19 at Parx Racing.
However, these NTL events are not just a weekend for racing. Lane wants to create a "spectacle" similar to what the Kentucky Derby and Formula One have done with their events, creating an experience that everyone can enjoy.
"Kentucky Derby, Formula One, there’s a tremendous appetite for these destination sports weekends," Lane said. "Julius was very instrumental in making sure we put golf in there, too, and letting people play with Julius. Making it so when you come to an NTL race, you’re coming to a weekend-long event."
What would a weekend like that entail? Well, considering it is Oktoberfest in Philadelphia during the time of that race, it will be a celebration of beer and music, as well as the first-ever "Dr. J Invitational" golf tournament, which Erving himself pitched to the NTL as Lane mentioned.
Additionally, The Nashville Cup on Sept. 1 at Kentucky Downs will kick off the season with a $1 million race, marking one of the biggest purses in the U.S. this year. Once again, music plays a large aspect in this event, with Tucker hosting while up-and-coming Nashville artists perform for racegoers.
Finally, The Phoenix Cup on Dec. 30 at Turf Paradise will determine the second season’s winner. More golf and food celebrations will be available as well for fans.
With $3 million in purses for the season – up from less than $1 million last season – and thoroughbred owners getting involved by nominating horses to be drafted by one of the 10 franchises, the NTL is innovating a sport that is generally thought of as individual success.
"We want to make this a great American circuit where people can go, appreciate this amazing spectacle, and that’s what a great horse race is. It’s a spectacle," Lane said. "They can make some bets, they can learn, they can follow the teams, they can have a rooting interest. But most of all, they have a great time."
Erving added, "Philly is one of the must-have places on this circuit in October. It’s just going to be phenomenal. I think there’s going to be a worldwide audience watching what’s going on out of curiosity and love for the horse-racing game. I’m glad to be in this."
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