Sydney - Sydney
is set to host the world's richest turf race with A$10 million
($7.55 million) in prize money, surpassing the Melbourne Cup for the
high-stakes honour, it was announced on Wednesday.
Coined "The Everest", organisers claim it represents "the pinnacle"
of thoroughbred racing with the 1 200 metre (3/4 mile or six furlongs)
sprint involving just 12 horses, Racing New South Wales said.
The inaugural race will be run on October 14 with buyers from
Australia and around the world invited to purchase a A$600 000 spot in
the event, which can then be traded prior to the entry date.
"The Everest will be a game-changer for racing in Sydney and provide a
stage for showcasing the best Australian sprinters against leading
international contenders,” said Racing NSW chairperson Russell Balding.
It will eclipse the winnings from Australia's iconic Melbourne Cup,
where tens of thousands of punters gather in November to watch world
champion thoroughbreds race for A$6.2 million.
The Dubai World Cup and newly-introduced Pegasus World Cup in the
United States carry more prize money, but they are raced on dirt.
The Everest will be run at Sydney's Royal Randwick racecourse and be
held annually with the winner taking home A$5.8 million and second
place A$1.42 million. The rest of the cash pool will be split between
the other finishers.