Horse Racing News | Racing NSW announces Australias new richest race: The Everest
Australia adopts a U.S. racing model for it’s newest richest race.
THE EVEREST: AUSTRALIA’S NEWEST RICHEST RACEIn wake of the recent Pegasus world cup, the world’s new richest race , Racing NSW have announced a race which adopts the same model to be run on the second Saturday of October each year. Dubbed, “The Everest”, the event will be held over 1200m at Royal Randwick with stake holders forking out a $600,000 purse for a ‘slot’ in the race.
Much like the Pegasus, a ‘slot’ means that this stakeholder may chose to sell their position in the race, connect with other owners or put a horse up themselves. The race which is to be run for its first time on October 14th is to be held under weight for age conditions with the total prize purse standing at $10M. Making this the richest race in the world on turf, eclipsing the previous French Prix de l'Arc de Triomphe by $2.87M AUD. Of this huge prize pool, each runner takes home the following: 1st = $5.8M, 2nd = $1.425M, 3rd = $800,000, 4th = $400,000, 5th = $250,000 and 6th-12th = $175,000 with $100,000 going ot the equine welfare fund. Much like the Pegasus, not only will owners take home money for their finishing position but also a portion of the wagering, sponsorship, broadcast and other rights. However this money is included in the $10M purse advertised and makes up $2.8M (since 12 x $600,000 = $7.2M). Racing NSW chief executive Peter V'Landys has organised the event so it is held after major sporting grand finals but will clash with Caulfield Guineas day. He also remarked that it could one day be the first major race held under lights at Randwick on a Friday night, but not this year. Racing NSW have also speculated that the field limit is not strictly set at 12 and may have slots added to further increase the purse to perhaps give Australia bragging rights over holding the world’s richest race.
NEWS: Racing NSW and Australian Turf Club announces the launch of The Everest, the world's richest turf race https://t.co/zjBmJi14jL— Australian Turf Club (@atc_races) February 1, 2017