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USA: Plans to run world's richest race in Florida
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Mshawish wins the Hal's Hope at Gulfstream 1.09.16

Gulfstream already hosts good racing in January

  PICTURE: Leslie Martin  

 By Nicholas Godfrey 9:28AM 12 MAY 2016 

USA: The world’s richest race will take place in Florida in January next year if plans for a $12 million dirt race on January 28 at Gulfstream Park come to fruition.

At present, the $10m prize fund for the Dubai World Cup is the largest on offer on the global racing stage.

But North American racecourse magnate Frank Stronach has now named the date for the inaugural running of the $12m Pegasus World Cup, to be run over 1m1f on dirt.

Stronach’s proposal, initially outlined at a conference in January, requires owners to put up a $1m entry fee to buy a place in the starting gate. Although the concept was initially greeted with much scepticism, an announcement on Wednesday of a date for the race suggests there is substance to his plan to attract the world’s biggest stars to Gulfstream, just north of Miami.

According to the Blood-Horse, the inaugural Pegasus World Cup will be restricted to 12 horses. For a $1m down payment, any owner can then race, lease, contract or share a starter – or sell their place in the starting gate. Original entrants will also have the first option to participate in future Pegasus World Cup races.

The Stronach plan features a business model stretching well beyond just chasing a lucrative purse as all entrants will share equally in 100 per cent of the net income from pari-mutuel handle, media rights and sponsorships.

Stronach, founder and chairman of the Stronach Group, explained: “The Pegasus World Cup will be conducted to the highest standards and will be held on Saturday, Jan. 28, thereby avoiding a conflict with either the Breeders’ Cup or the Dubai World Cup.”

Jack Wolf, founder of ownership group Starlight Racing, has been appointed chief executive of the Pegasus World Cup.

“I think they’ve been discussing this in-house for about a year and a half, two years now,” said Wolf, speaking to the Lexington Herald-Leader.

“They invited me in to try and tweak the model and try and get out and market and produce some things. I’ve been working with them the last three months and now we’re ready to kick this thing off. Hopefully there will be some interest and there will be a fancy race.”

 

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