Trouble awaits if sport does not strive ever harder to spread the ownership net

This column took a short break for a busman's holiday to Melbourne, where as well as the magnificent Winx and Britain's first success in the race that truly does stop a nation, one of the most memorable experiences was watching a Victoria Derby triumph for a horse whose owners painted a picture synonymous with Australian racing.

The scenes after Extra Brut's victory were loud, wild and wonderful. It would be hard to imagine seeing similar scenes in and around the Epsom winner's circle on Derby day. British racing is all the poorer for that, to the extent the sport here must work harder to find a way of mirroring the Australian model.

Among the many owners of Extra Brut was a woman who told me she had owned shares in four horses without once spending more than Aus$10,000 (about £5,500/€6,180). She was one of those in a state of euphoria, shouting: "We've won the Derby! We've won the Derby!" Indeed, Extra Brut's owners were mainly said to be friends of friends of friends who had a fraction of the mane or tail. Most of them only owned a little bit but all the bits together added up to a glorious whole.