Randwick to stage world's richest turf event in October

Randwick racecourse in Australia will stage a new six-furlong sprint worth A$10million on October 14.The race, which will be called The Everest, will be conducted along the same lines as last weekend's Pegasus World Cup in America, with contenders paying a A$600,000 entry fee to run in the 12-horse field. The entry can be leased or sold on.The Everest is a joint venture between Racing NSW and the Australian Turf Club, with the prize fund, which equates to over £6m, topping that of the Melbourne Cup and being the largest pot on offer in a turf event in the world."Twelve slots will be sold in The Everest through an expression of interest entitling the owner of the slot an entry in the field. The owners of these slots will be able to trade their position or alternatively partner with owners not holding a slot to enter a horse in the final field for the race," Racing NSW said in a statement."The prize money pool is to be fully-funded from subscribers and additional revenues generated from the event. Run under weight-for-age conditions, The Everest will be an exciting new race in Sydney's Spring Carnival."The chairman of Racing NSW, Russel Balding, is hoping the event will attract an international field."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," he told www.racing.com.Australian Turf Club chairman, Laurie Macri, added: "The Everest is a joint venture between Racing NSW and the Australian Turf Club, who share a vision to see more Sydney racing on the world stage."Royal Randwick itself is an international landmark, and it will now rightly showcase the world's richest sprint over one of the best but most testing 1200-metre courses anywhere in racing."