THE Everest will attract some of the best sprinters from the northern hemisphere to compete for the race’s staggering $ 13 million prizemoney pool next year.
This is the prediction of slot-holder Damion Flower who believes there will be a powerful international entry for next year’s The Everest (1200m), to be run at Royal Randwick on October 13.
Racing NSW and Australian Turf Club confirmed on Wednesday plans to increase The Everest stakes by $ 3m in 2018 with further increases planned to take total prizemoney to $ 15m by 2020.
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“It is magnificent,’’ Flower said of the prizemoney increase to $ 13m next year. “When the concept was first raised I thought it would take off but this race is bigger than what I imagined.
“The Everest will get inundated with overseas horses now and you will get people who will want to pay a premium to get a slot. There will be overseas owners and trainers marking The Everest down in their diaries now.’’
The Everest’s $ 13m prizemoney makes it the world’s second richest race, behind only the US Pegasus World Cup which has prizemoney of $ US16m (about $ A20m).
Racing NSW chairman Russell Balding said there are further $ 1m prizemoney increases planned for 2019 and 2020. Balding said Racing NSW and ATC always committed to reinvest any incremental profits from The Everest back into the race.
The success of inaugural The Everest last month in attracting record betting turnover and commercial revenues has allowed this reinvestment to occur immediately.
“The Everest exceeded all expectations in its first year and has already established itself on the racing calendar with its own personality and charisma,” Balding said.
“These prizemoney increases reward the loyalty and vision of the original slot holders who backed the concept.’’
Racing NSW and ATC officials will meet the 12 slot holders later this month to receive their feedback and to discuss how the increased prizemoney will be distributed.
Some slot-holders who spoke to The Daily Telegraph on Wednesday hoped that consideration would be given to spreading the prizemoney increases and making a minimum $ 300,000 for finishing sixth-to-12 (up from $ 175,000).
“If the slot-holders got half their money back at least, everyone would be happy,’’ said one slot-holder, who requested anonymity.
The Everest first prizemoney will increase from $ 5.8 million with some suggestions it could reach as much as $ 7 million next year and provide a greater spread of the record prizemoney to the beaten horses in the race.
ATC chairman Laurie Macri said The Everest has captured the attention of the racing world but “most importantly it brought a new and younger audience to Royal Randwick”.
“We will continue to make this raceday a modern and dynamic event in the Sydney spring to attract even more first-time customers to racing,’’ Macri said.
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