There has been a further boost in prize money for racing in New South Wales.
The Golden Eagle is the main beneficiary of the increase, now moving past the $10 million mark. This makes it the second-richest race in Australia behind the Everest at $15 million, now overtaking the Melbourne Cup.
Following the news from New South Wales, the Victoria Racing Club has said it will now review prize money for the prestigious Melbourne Cup (learn more about the Melbourne Cup prize money).
Chairman Neil Wilson has spoken publicly to say a boost may now be on the cards. Despite this, he has been at pains to point out that the VRC is not feeling under threat.
VRC has announced its own prize money boosts recently. The main focus of increases has been on the races on the fourth day during Cup week. This will now be known as VRC Champions Stakes Day. Up to now though, the Cup was not involved in the hikes.
Now however, NWS has increased the Golden Eagle from $8 million to $10 million. They did this less than a day before VRC was due to announce its own prize money increases.
Wilson now says that an increase in the stakes cash for the Melbourne Cup was part of the plan. The latest announcement regarding Champions Stakes Day was just the next part of the plan, with much more to come yet regarding the Cup.
As of now, the Melbourne Cup has been relegated to be the third most valuable race in the country. According to Wilson though, the latest announcements were more about the schedule. Further increases in prizes for the Cup, as well as Derby Day and Oaks Day are expected.
Melbourne Cup’s Status Not in Danger
Despite NSW having two races more valuable than the Cup, at least for now, we feel that its prestige counts for plenty and Neil Wilson has also said that its place as the greatest race around isn’t lost to Sydney.
The Melbourne Cup has enormous history and value, including abroad. The Sydney races don’t have the same Group 1 status, though they do look disruptive.
A good guess will be that a prize fund of around the $10 million mark could be incoming for the Cup. While not reaching the prize for the Everest, that would better reflect the race’s status.
With prize money increases still to be announced in full, the hope is that trainers and owners are perturbed from heading to Sydney instead of Flemington during Cup week.
Changes already announced include moving the Cantala Stakes from Derby Day to Champions Stakes Day. It is also now a weight-for-age, rather than a handicap. There are also now three ‘grand final’ races on the last day of Cup week.
They are now known as the Darley Champions Sprint over 1200 metres, the Kennedy Champions Mile (2000 metres) and the VRC Champions Stakes over the same distance.
Read more news about the Melbourne Cup.
