The results of each of the current ten Group One races, including the 2,000 Guineas and the Derby, will be subject to a points system designed to determine the 'Champion'.
An £8 million investment will be needed to fund the launch of the 'Sovereign Series' which could start from 2010.
Under proposals, a winner's purse of £2 million would be awarded for the winner of the series, a move it is hoped will ignite a wider interest from the general public and more media attention.
Jockey Club chief executive designate and executive chairman of Racing UK, Simon Bazalgette, commented: "Our vision is that in five years [the Sovereign Series] will have become established as a major sports competition on the British calendar alongside Wimbledon, the Open and other similar events."
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