An Australian thoroughbred grand prix, match racing and an Australian country racing championship series are mooted as part of Racing Victoria Ltd's (RVL) vision for thoroughbred racing in the state.Group One night racing, summer Saturday night racing and "extreme", or short-course, racing are other innovations RVL is considering in a push to attract the Asian market."It's very much about seeing an opportunity, new products into new markets using new technology, and Asia is a perfect time zone f

An Australian thoroughbred grand prix, match racing and an Australian country racing championship series are mooted as part of Racing Victoria Ltd's (RVL) vision for thoroughbred racing in the state.

Group One night racing, summer Saturday night racing and "extreme", or short-course, racing are other innovations RVL is considering in a push to attract the Asian market.

"It's very much about seeing an opportunity, new products into new markets using new technology, and Asia is a perfect time zone for us," RVL CEO Rob Hines said when releasing the Racing to 2020 business plan in Melbourne on Thursday.

"You will start to see a shift of racing towards later in the day, night racing. This will match very well with our Asian strategy.

"This is all about building a sustainable business so we want to be in the markets that are growing and we want to take Victorian racing, which is the best product in Australia, internationally and reap the rewards for the owners, trainers and participants here.

"This business plan is a vision, a framework, there are a few things we are doing immediately but mostly it is about the next five, 10, 15 years.

"You are not going to see massive changes next week or even next season. As we work through it we want all industry participants to support and get on board with this plan so we are hoping it will be positive for everybody."

Hines said racing had to be innovative.

"What we are really trying to do for racing is what was done for cricket with one-days and Twenty20. We've got to reinvigorate the product. Racing hasn't changed for 100 years," he said.

Hines said he would like to see the industry do the deals for intellectual property (IP) rather than individual clubs doing their own negotiating.

"If we do that we'll get a better return commercially. I realise that's going to be controversial. Some people are going to have issues with that, that's for discussion but I think we can all benefit by bringing those IP assets into the one location."

Hines said country race clubs were not under threat of being closed down but he would like to see an administrative merger of some clubs which are close together geographically.

"Perhaps they can still race on the tracks they have now but the administration is where we have to streamline," he said.

"I think there is too much money and effort spent in administration."

Hines said the landscape had changed dramatically for racing over the past decade and the first part of its vision was Wednesday's announcement that a "product fee" would be paid by all wagering operators for the use of Victorian racing's intellectual property.

Hines said the abolition of the "gentlemen's agreement" between states on the level of the fee would benefit Victorian racing by "millions of dollars".

Under the new model, product fees of 10 per cent - a fee of 15 per cent will apply during the spring carnival - will be charged on gross profits rather than turnover and will apply to interstate totes, corporate and on-course bookies and betting exchanges who bet on Victorian races.