Racing NSW and the Australian Turf Club today announced the launch of The Everest, an exciting new race with prizemoney of $10 million. This not only makes it the richest 1200 metre race in the world but also the richest turf race in the world.

The Everest will be run at Royal Randwick racecourse over 1200 metres for the first time on 14 October 2017 and thereafter on the second Saturday of October each year.

The Everest will be unique in Australian racing in that the race will be open to local and international buyers to purchase a place (slot) in the race at a price of $600,000.

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.

The prizemoney 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 Everest will be a game-changer for racing in Sydney and provide a stage for showcasing the best Australian sprinters against leading international contenders,” said Racing NSW Chairman, Mr Russell Balding AO.

Australian Turf Club Chairman, Laurie Macri said: “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 1200m courses anywhere in racing.”

“This represents an innovative concept and a tremendous new event to promote thoroughbred racing to a broader audience” said Racing NSW Chief Executive Mr Peter V’landys AM.

“Being a sprint over Royal Randwick’s testing 1200m circuit, The Everest is tailored to Australian racing,” Mr V’landys added.

Australian Turf Club Chief Executive Officer, Darren Pearce said: “Sydney racing is going from strength to strength, and The Everest furthers our goal to attract a global audience, whilst providing Sydney with a massive drawcard in the Spring.

“We couldn’t be more excited to add The Everest, Australia's richest race, to our Sydney Spring program.”

Newly appointed Racing Minister, The Hon Paul Toole said: “I’m extremely excited about the staging of this new race. The Everest will provide another positive boost to NSW racing bringing to Sydney a world class event along with the substantial economic benefits associated with the race.”