The rivalry between Sydney and Melbourne got notched up to a higher level with the running of " The Everest " at Randwick race course. This is billed as " the richest horse race held on turf " and has a ten million dollar prize pool.
Quite clearly, it is an event that its promoters hope will take the shine off the famous Melbourne cup as the premier horse race in Australia. It is based on a famous United States horse race called " the Pegasus " and there is the expectation that in coming years it will attract entrants from the worlds most illustrious racing stables.
" The Everest " is a twelve hundred metre weight-for-age race and the entrants are restricted to just twelve barrier slots. What is unusual is that obtaining a barrier slot will be open to competition and the winner will have the right to run a horse that they own, or deal with other stables to select a runner which will be competitive. This could become a hotly contested lottery between the big money interests of the world racing scene.
The winner receives a prize of $ 5.8 million, plus a trophy valued at $ 320,000. The horse running second receives $ `1.42 million, third $ 800,000 and each of the rest of the field receives $ 175,000 .
It is expected that competition for one of those racing slots will become the news story that precedes the race every year as racing identities with deep pockets seek the prestige that comes with winning what will be the worlds richest horse race.
This first race is testing the water to see how it is received on the world stage, and for the promoters this is a big gamble. Why some events become a " legend " and others fail to make that grade is not something that can be explained by science. Even when the best minds put together an event that is backed by astronomical money there is no guarantee that what is planned will attain that special " magic " in people's minds that bestows the term " legend " and makes it memorable.
That is illustrated by the phenomenon that is the Melbourne cup. Every state capital has a horse race run in its name and each is well supported, but the race that " stops Australia " occurs in Melbourne on every first Tuesday in November. The money bet on that race across Australia breaks records each year and in many cases it is the only racing bet that many members of the public place each year. Pubs and clubs are packed in cities and country towns - Australia wide - to watch the race run on television.
If Sydney interests are hoping that " The Everest " will cause interest in the Melbourne cup to recede they will probably be disappointed. It is an entirely different type of race, a short sprint compared with a distance event in Melbourne requiring entirely different competitors. How " The Everest " fares in public minds will rely heavily on luck. Hopefully, future races will attract a field of competitors that catch the public imagination - and nothing sparks interest like a good old spat between leading racing interests. If that all comes together, this race will take a leading role in the Australian racing calendar. But is in unlikely to shade the Melbourne cup.
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