According to sources, Sydney is going to hold the richest turf race in the globe worth over a $10 million which should add to the staggering $23 Billion annual spend. Named Everest, it is poised to make Australian racing more significant on the global map. It was only last week when the US held the Pegasus World Cup worth close to $12 million. The upcoming race will take place at Randwick, and it will be included in the 2017 Spring Festival. Both Pegasus and Dubai World Cup are dirt race and not turf based ones though they have more coverage and value.
The arrangers say Everest has the potential to be a game-changer and will give top Australian sprinters a platform to contest against top international contenders. There will be a dozen places in the race, and each slot costs $600,000. Purchasers have to commit to this race for a three-year period but are allowed to nominate the horses under their ownership under the law. They can also ally with other owners lacking a slot to get their horses taking part in the upcoming race. The race is fully funded, and there will be no extra costs once a medial deal and sponsorship is finalized.
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The prize purse will overshadow the Melbourne Cup, but arrangers said it is not their target to compete with other top racing events. The announcement, as expected, has made the horse racing industry in Australia quite excited and the mood is upbeat. Henry Field of Newgate Farm said that Australia has some of the qualified sprinters in the entire world. So, such a race is only fitting.
The fans are of the view the upcoming Turf race will take the racing industry to new heights. The grand race will change the way people think of horse racing in the near future. More such events can make things bright for the racing industry.