The rebrand � devised with the help of brand consultants Harrison Fraser � is the result of months of interviews and workshops with racing professionals, race-goers and punters and has cost �250,000 to develop.

Harrison Fraser's research found that around 10 per cent of the British population goes to the races at least once a year, a third of which attend on a regular basis. The rebrand�s goal is to ultimately convert irregular racegoers into more regular ones and reach out to around 90 per cent of the population who never go to watch the sport.

�If racing came to life as a person,� said John Harrison, one of the firm's senior partners. �We think it would be a bit of a Brian. Brian is traditional and British and thinks in quite an old-minded way. He's got a group of friends that are very loyal, and when they get together they have a fantastic time, but then talk in a language that no one else can understand.�

�Five years in the future, if you have created the ideal racing experience for everybody, the picture is of a Ben industry. Ben is younger-minded than Brian, more worldly, in touch with a new generation but the nice bit about him is that he can talk to your grandmother but equally he can talk to your teenage kid.�

Harrison added that racing has the opportunity �to be famous for creating a new British classic brand.� An initial progress reports is expected in July.