Magic Millions’ owners Gerry Harvey, John Singleton, Rob Ferguson and Katie Page-Harvey today launched a campaign to make Queensland the home of the “World’s Richest Horse Race.”
Magic Millions Director, Gerry Harvey said, “Magic Millions January Carnival contributes $51.9 Million to Queensland, now more than any other event on the Gold Coast.
“We have invested over $25 million in the past three years (and over $100 million in the past 10 years) to take Magic Millions to the next level in terms of prestige and profile, however our aim has always been to be able to justifiably call Magic Millions a world-class event.
“We want Queensland to be home to the ultimate – the World’s Richest Horse Race.
“To make this a reality we are here to put our money where our mouth is. Today we are prepared to commit US$5million to prize money for the 2011 Magic Millions 2YO Classic if the Queensland Government will match our contribution dollar for dollar.”
Magic Millions Director, John Singleton commented, “Currently the richest horse race in the world is The Dubai World Cup with its prize money set to increase US$10M in 2010 from US$6M last year.
“Victoria’s Melbourne Cup will offer A$6M in prize money in 2010 – making it the world’s richest handicap. If Queensland’s Magic Millions 2YO Classic was the world’s richest race, Australia would have the ultimate ‘daily double’ in international horseracing.
“If Magic Millions can generate $51.9M for Queensland in 2009, imagine what it will mean to Queensland and the Gold Coast if it was home to the race that stops the horseracing world in 2011.”
The Aegis economic report highlighted that ‘international and domestic visitors attending the Carnival’s sales events spend between 2 and 5 times more than the average international or interstate visitor to the Gold Coast.
“Horseracing may be considered the sport of kings, but with Magic Millions Queensland is the real winner.
“We always knew that Magic Millions attracted families from Australia and overseas; families who stay for at least a week, enjoy the beaches, the shopping, the theme parks and the restaurants – but they travel here for the Magic Millions yearling sales and the race day.”
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This would be a disaster for racing - a 2-y-o race being the richest race on the planet? It would tempt owners to race youngsters that were no ways ready. Second, races restricted to 2 or 3-year-olds rarely attract international entries, it's older horses that go travelling, and the result would not have half the prestige of the Dubai World Cup which tests top horses from around the world against each other. Third, the Dubai program is a whole series of races over three months, the horses have a chance to get to train on and get to know the track, so the results mean something and aren't just flukes. This "richest race" syndrome is just media-hype silliness, and won't do a thing for racing.