Blink and you'll miss it: fairytale filly headlines world's richest turf race

Preview: Australia, Saturday 6.15am BST (live on ATR)

Randwick: The Everest (conditions race) 6f | turf | 2yo+

THE WORLD'S RICHEST TURF RACE: YOUR QUESTIONS ANSWERED

What is the Everest?

A completely new weight-for-age race over 1,200 metres (about 6f) at Sydney's premier racecourse, Randwick, with a prize fund of A$10 million – or £5.9m (€6.6m) at current exchange rates, which means it immediately becomes the richest turf race in the world.

Which races are worth more?

Only two, both run on dirt: the Pegasus World Cup (projected at $16m for 2017) and the Dubai World Cup ($10m). Joint-second on the turf list are the Dubai Turf (former Duty Free) and Dubai Sheema Classic with $6m purses.

How come it isn't a Group race?

As a new race, the Everest is ineligible for international Group status (like the first two runnings of the Dubai World Cup, which were officially only Listed contests). The Pegasus got around this by taking over the conditions, and Grade 1 status, of the former Donn Handicap.

Top ten: world's richest races

1 Pegasus World Cup $12m* (£9.1m/€10m), Gulfstream Park, USA

2 Dubai World Cup $10m (£7.6m/€9.3m), Meydan, UAE

3 The Everest $A10m (£5.9m/€6.6m), Randwick, Australia

4 Dubai Turf $6m (£4.5m/€5.1m), Meydan, UAE

=Dubai Sheema Classic $6m (£4.5m/€5.1m), Meydan, UAE

=Breeders' Cup Classic $6m (£4.5m/€5.1m), Del Mar, USA

7 Arc €5m (£4.5m), Chantilly, France

8 Japan Cup Y648m (£4.4m/€4.9m), Tokyo, Japan

=Arima Kinen Y648m (£4.4m/€4.9m), Nakayama, Japan

10 Melbourne Cup $A6.2m (£3.7m/€4.1m), Flemington, Australia

(at current exchange rates)

*set to be increased to $16m for 2018

How did it come about?

It's the brainchild of combative Racing NSW chief executive Peter V'landys, the Everest was launched in February based on the Pegasus, the first edition of which was won by Arrogate at Gulfstream Park in Florida in January. There, 12 'shareholders' forked out $1m for a guaranteed place in the starting gate; the Everest is A$600,000 (or £355,000) a throw, with all investors locked in for three years (so A$1.8m in total). Slot owners have the right to lease, share or sell their starting position.

What's the point?

The Everest has been set up to provide a new highlight for the revamped Sydney spring carnival, largely overshadowed in the past by the offering of arch-rival Melbourne. The Everest card stands in direct competition with a glittering card at Caulfield featuring a plethora of trials for the Melbourne Cup and Cox Plate – and the A$2m Caulfield Guineas.

Who owns a slot?

Various studs, racehorse owners, the sponsors Tabcorp and the Star casino were among those to get involved, while the Australian Turf Club, which runs Sydney racing, also acquired their own slot (taken by Brave Smash) for use as a 'wild card'. Even Winx's stable are among the shareholders – but their Chris Waller Racing slot is being used by the Gerald Ryan-trained Deploy, who has broken track records at Randwick and Rosehill on his most recent outings.

Big-race jockeys Brenton Avdulla, Kerrin McEvoy, Regan Bayliss, Corey Brown and Blake Shinn pose with the TAB Everest trophy at the draw ceremony in SydneyCredit: Mark Metcalfe (Getty Images)

How is the purse divided?

Only the first three will be guaranteed a profit at the Everest, where the fund is split as follows: A$5.8m (£3.43m) for first place, A$1.425m (2nd), A$800,000 (3rd), A$400,000 (4th), A$250,000 (5th) and A$175,000 (6th to 12th). They also get a cut of what are termed "additional revenues".

What about international interest?

Frankly, not much so far. Coolmore briefly considered sending Caravaggio before his season went a little awry; their spot is now taken by Australian-trained filly Tulip, a 50-1 shot. Jamie Spencer has been flown in to ride former Japanese-trained outsider Brave Smash, while American pop star Jason Derulo is doing the honours at the post-race concert.

So who is running?

A purely domestic field of 12 (plus three reserves) features seven Group 1 winners, headed by favourite She Will Reign (see below) and flashy grey Chautauqua, a three-time winner of the TJ Smith Stakes over course and distance, who only recently lost his status as the world's highest-rated sprinter to Harry Angel. Expect to see him flying home from the rear; his closing sectionals are stunning. Dual Group 1 winner Vega Magic is another leading hope; he is running for Max Whitby and associates, including Neil Werrett, managing owner of the Black Caviar syndicate.

What about this 'fairytale filly'?

Ah yes, She Will Reign. She cost just A$20,000 as a yearling before going on to win the Golden Slipper, the world's richest two-year-old race, at Rosehill Gardens in March. The three-year-old made a triumphant return to beat older horses in the Moir Stakes at Moonee Valley. "Bring on the Everest – bring it on!" said trainer Gary Portelli. "She's the real deal." She is owned by a syndicate of 19, among them a builder, a housewife, a carpenter, an ice cream factory worker, a nurse, family carer and three coalminers. They have partnered with Chinese billionaire Yuesheng Zhang, whose company Yu Long Investments bought one of the original Everest slots.

What the Everest connections say

Michael Hawkes, co-trainer of Chautauqua
He's got a bit older, there's certainly no doubt about that. He's probably really racing a little bit more relaxed which is a good thing. But he's still got that killer instinct. He's still got that will. His sectionals are telling you that; his times are telling you that. But it's a quality field – it's got a lot of depth to it and it's probably the best sprinters in Australia at this point in time.

David Hayes, co-trainer of Vega Magic, Redkirk Warrior and Tulip
Everything we have done with Vega Magic has just been outstanding. In a normal year I would say he was the best sprinter I have had for quite a while but Redkirk is around and he's pretty good too. Don't count Tulip out – she's a brilliantly talented filly and more than capable of mixing it with my Group 1 sprinters, so deserves her place.

Gai Waterhouse co-trainer of English
She's been beaten a few times but she's come right at the right time. I think she'll win. She's tough and she's rolled up her sleeves for the day and we've got her ready.

Gary Portelli, trainer of She Will Reign
She's the real deal and the draw's (two) absolutely sensational. She's just going to get the best run early and from there on it's all up to the gods on whether she gets a run through. I'm just hoping she's just travelling well enough so when there's a gap available she going well enough to get through it.

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