Racing's hopes to have a worldwide championship akin to Formula One motor racing in place by the year 2000 are set to be finalised in November.
The Turf Club senior steward, Professor Michael McCormac, said on Saturday that plans for an eight-race series could be finalised at the Breeders' Cup meeting.
Each of the eight races will be worth more than $1 million and Leopardstown's Champion Stakes will be the Irish leg of the series.
Other races will include the Dubai World Cup, the Japan Cup, the King George VI And Queen Elizabeth Diamond Stakes and the Prix de l'Arc de Triomphe. Points will be awarded for each race in the championship.
A worldwide tote pool will be in operation for each race and currently an overall sponsor for the events is being sought.
