a year-end championship for North American Thoroughbred racing, and also attracts top horses from other parts of the world, especially Europe. The idea for the Breeders' Cup was proposed at the 1982 awards luncheon for the Kentucky Derby Festival by pet food heir John R. Gaines (1928–2005), a leading Thoroughbred owner and breeder who wanted to clean up the sport's image. The Cup was initially faced with much skepticism in the racing community, however with the vocal support of legendary trainer John Nerud and others, the Breeders' Cup was carried out, and subsequently experienced tremendous popularity domestically and abroad. The prize money is largely supported by nomination fees paid by breeders for stallions and the resultant foals. In North America, participating stud farms pay an annual nomination fee for a given stallions that is equal to the stallion's advertised stud fee, plus an additional amount if the stallion has more than 50 foals in a given year. The cost to nominate a European stallion is 50% of their stud fee, while the nomination fee for a South American stallion is 25% of their stud fee. In North America, the breeders of the resultant foals must also pay a one-time nomination fee (currently $400) by October 15 of the year of birth. The races are operated by Breeders' Cup Limited, a company formed in 1982. The first event was in 1984. From its inception in 1984 through 2006, it was a single-day event; starting in 2007, it expanded to two days. All sites have been in the United States, except in 1996, when the races were at the Woodbine Racetrack in Canada. 2000–09: Expansion In 2006 Greg Avioli began serving as interim President and CEO of the Breeders' Cup, and he became the official CEO in April 2007. "This is an exciting time for the Breeders' Cup", said Avioli. "We will continue to focus on growing the international market for our championships, creating a successful two-day event and promoting the Breeders' Cup brand with both our television and sponsorship partners." In 2007, the event was expanded from one to two days and in 2008, the first day was devoted to female horses and the overall purse increased to over $25 million, making it what the New York Post called "the richest turf festival in the world." Before the Breeders' Cup expanded to two days, it was generally considered to be the