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Irish Daily Mirror
11-07-2025
- Automotive
- Irish Daily Mirror
One of World's richest races offers huge prize money even for last placed horse
One of the globe's most prestigious horse racing events is dishing out big bucks, with even the last-placed horse set to receive a hefty sum. Australia's iconic Lexus Melbourne Cup, known as the 'race that stops the nation', is a major draw for top horses from Europe, Japan, and beyond, with last year's event featuring entrants from leading trainers Willie Mullins, Brian Ellison, and Harry Eustace. In the lead-up to the 2025 event, the Victoria Racing Club has revealed a whopping £4.8 million in total prize money will be up for grabs in the 2m handicap. The boost is designed to acknowledge every starter in the maximum 24-horse field, with each horse finishing 13th to 24th set to pocket £48,000. Additionally, winners of the Geelong Cup and Moonee Valley Gold Cup will secure a guaranteed start. Victoria Racing Club CEO Kylie Rogers commented: "The Lexus Melbourne Cup is unrivalled for its history, status and reach and the VRC is proud to be able to now reward every local and international participant in the great race.", reports the Mirror. "It reflects the significant effort required to prepare and qualify for the Lexus Melbourne Cup and goes hand-in-hand with a decision to add additional qualifying opportunities through the Geelong Cup and Moonee Valley Gold Cup. "Cup Week adds more value to the economy and the racing eco-system than any other racing carnival in the country, contributing around 10 per cent of the annual wagering turnover across the state. "We thank Racing Victoria for its support to lift minimum prizemoney across the week, which will continue to attract the best horses, jockeys and trainers from Australia and across the world. "In line with the club's significant improvement in its financial position this year together with a forecast to increase again in season 2025-2026, the VRC has made a considered decision to increase its returns to participants. "Planning for the 2025 Melbourne Cup Carnival is in full swing, and this is just one of a number of exciting announcements that build momentum towards the world's greatest racing event."
Daily Mirror
10-07-2025
- Automotive
- Daily Mirror
One of world's richest horse races to offer £48,000 for finishing last
One of the world's most famous races is splashing the cash to reward even the horse which finishes last. The Group 1 Lexus Melbourne Cup is Australia's greatest horse race, known as the 'race that stops the nation' is renowned around the world and has become a huge draw for horses from Europe and Japan. Last year's edition featured runners from the stables of Willie Mullins, Brian Ellison and Harry Eustace while a Japanese runner finished second behind local horse Knight's Choice. In the build-up to the 2025 race, the Victoria Racing Club has announced the 2m handicap will offer total prize-money of £4.8 million. The increase has been introduced to recognise every starter in a race which annually draws a maximum field of 24 horses. As a result every horse which finishes from 13th to 24th place will be paid £48,000. In addition winners of the Geelong Cup, won by the Ellison-trained Onesmoothoperator, and Moonee Valley Gold Cup, will be guaranteed a start. VRC chief executive officer, Kylie Rogers said: 'The Lexus Melbourne Cup is unrivalled for its history, status and reach and the VRC is proud to be able to now reward every local and international participant in the great race. 'It reflects the significant effort required to prepare and qualify for the Lexus Melbourne Cup and goes hand-in-hand with a decision to add additional qualifying opportunities through the Geelong Cup and Moonee Valley Gold Cup. 'Cup Week adds more value to the economy and the racing eco-system than any other racing carnival in the country, contributing around 10 per cent of the annual wagering turnover across the state. 'We thank Racing Victoria for its support to lift minimum prizemoney across the week, which will continue to attract the best horses, jockeys and trainers from Australia and across the world. 'In line with the club's significant improvement in its financial position this year together with a forecast to increase again in season 2025-2026, the VRC has made a considered decision to increase its returns to participants. 'Planning for the 2025 Melbourne Cup Carnival is in full swing, and this is just one of a number of exciting announcements that build momentum towards the world's greatest racing event.'
News.com.au
06-07-2025
- Automotive
- News.com.au
Revealed: The Melbourne Cup is set for a major prizemoney boost for the new racing season
Australia's most famous race, the Group 1 Melbourne Cup (3200m), has got richer. This masthead has established a long-held Victoria Racing Club (VRC) dream – a $10m Melbourne Cup – has finally been realised. Racing Victoria is set to confirm prizemoney for the 2025-26 season, as early as this week. The Melbourne Cup has carried an $8m prizemoney pool since 2020 – marketed as $8.75m including the iconic 18-carat gold three-handled trophy, valued at $750,000. It is only the sixth significant prizemoney boost for 'the race that stops a nation' since 1990 – the first seven-figure ($1m) purse. The Melbourne Cup has increased in 2000 ($2m), 2009 ($5.5m), 2010-17 ($6-6.2m), 2018 ($7.3m) and 2019 ($8m). RV controls prizemoney in the thoroughbred racing industry. The VRC has lobbied RV since 2022 for a $10m Melbourne Cup, as part of annual industry-wide prizemoney submissions to RV. This masthead in May revealed the latest VRC bid again included a $10m Cup wish. RV rejected past submissions due to a tough economic and wagering environment. Wagering returns, which fund the racing industry, dropped 10-15 per cent year-on-year after an explosion during the Covid pandemic. While wagering income and cost control remains crucial, better collaboration between RV and stakeholders, including racing clubs has allowed for important prizemoney adjustments. The total Victorian prizemoney pool – $316m last season – is likely to largely be retained but greater flexibility at club level, in particular, to redistribute funds has afforded select changes. It is understood the VRC has been able to trim prizemoney off other feature races to achieve the $1m and change required to secure a $10m Melbourne Cup. The All-Star Mile and Australian Cup dropped from $3m to $2.5m last season. The Group 1 features could be subject to further reductions. RV chief executive Aaron Morrison declined to comment on prizemoney discussions. However, Morrison said any changes for the upcoming season would benefit Victorian racing from grassroots to the top tier. Australia's best race, the Group 1 W.S Cox Plate (2040m), could jump to $6m – up from $5m – ahead of a historic last weight-for-age championship on the traditional Moonee Valley racecourse. The Valley is being redeveloped after the 2025 Cox Plate, with a return to racing on a reconfigured circuit slated for 2027. RV has yet to anoint a host for the 2026 Cox Plate but Flemington remains the logical frontrunner. The $5m Caulfield Cup (2400m) is likely to remain unchanged prizemoney wise however the purses of other Melbourne Racing Club events could be adjusted to afford select increases.
News.com.au
12-06-2025
- Automotive
- News.com.au
VRC shuts down merger speculation after secret meeting revelations
Victoria Racing Club has shut down any potential for merger. The staunch position statement to members followed a media report on Thursday about a meeting in February where club bosses canvassed what a merger could look like. Billionaire racehorse owner-breeder Jonathan Munz hosted the roundtable between VRC chairman Neil Wilson, vice-chair Andrew Ramsden and Melbourne Racing Club kingpin John Kanga. The masthead has confirmed the discussion took place but not advanced beyond the night. Wilson and VRC chief executive Kylie Rogers co-signed a letter to members on Thursday. 'We are not pursuing or engaging on club merger activity and we have no reason, financial or otherwise to do this at this time,' the letter reads. 'We remain committed to working alongside Racing Victoria and the broader industry for the betterment of Victorian racing. 'Our focus is squarely on strengthening the VRC – growing our club, backing our members and partners, and building on the success of the Melbourne Cup carnival.' The pros and cons of merging Melbourne's metropolitan racing clubs, VRC, MRC and Moonee Valley Racing Club, has been an ongoing industry discussion for many years. Club members would need to vote in favour of a merger for the concept to gain any traction. The Valley is set to be closed in October for a full redevelopment, including new track and grandstand, with an estimated 2027 return date. Sydney counterpart the Australian Turf Club was created in 2011 following the merger of the Australian Jockey Club (AJC) and Sydney Turf Club (STC). The VRC, host of the Melbourne Cup carnival, is the shopfront of Australian racing to the world while MRC anchors the bulk of Victorian metro meetings at Caulfield and Sandown. The MRC has one of the strongest balance sheets in Australian sport with significant assets and a diversified business, including 14 poker machine venues. The VRC battled financially post-Covid, lost $70m in four years, but is set to return to profit. Southside Racing, entity following the merger of Cranbourne and Pakenham turf clubs, has exceeded all expectations. While not privy to any VRC and MRC discussions, Southside chief executive Neil Bainbridge hailed the first 12 months of the Cranbourne-Pakenham merger an 'outstanding success'. Bainbridge, however, conceded it is not a 'one size fits all' model. 'We're a lot more efficient, we're a lot more effective, we're a lot more aligned and we've got a common goal to grow racing in the southeast,' Bainbridge said. 'We think we've delivered some really good outcomes … Southside has been a success but driven by some unique circumstances and opportunities. 'We're a supporter and believer in what Southside has been able to achieve but certainly not suggesting there is a one size fits all model.'
Sydney Morning Herald
05-06-2025
- Business
- Sydney Morning Herald
He designed the new World Trade Centre. Now this superstar is building a Caulfield school
A Melbourne private school has snared one of the world's top architects to help design its new 'mega campus' on the site of Caulfield Racecourse in the city's inner south-east. Daniel Libeskind – who drew up the masterplan for rebuilding New York's World Trade Centre after it was destroyed in the 2001 terrorist attacks – will be announced on Friday as part of the design team for Mount Scopus College's new Caulfield campus. The private Jewish school kick-started its ambitious plans for an early learning to year 12 campus, a sports precinct and a centre for Jewish life last year with a $195 million deal to buy a large tract of the racecourse from the Victoria Racing Club. There are currently 1210 students enrolled at Mount Scopus' three campuses, in Burwood, Caulfield South and St Kilda East. Annual fees are more than $42,000 for students in its senior levels. Loading The school has dubbed the build 'Project Generation,' and says it is not only one of the largest educational developments under way in Australia, but also among the biggest projects ever undertaken for the nation's Jewish community. The project team will announce the design coup on Friday – with Libeskind, who shot to international renown with his design for Berlin's famous Jewish Museum – considered by some as the No 1 global contemporary architect. He has designed landmark buildings around the world, including Dublin's Grand Canal Theatre, the Royal Ontario Museum as well as the Berlin museum project, which electrified world architecture when it was built in 1999. University of Melbourne associate professor of architecture Rory Hyde was excited by the appointment, describing the 'hugely influential' Libeskind as the 'real deal' among the giants of modern architecture and a perfect fit to design a new centre for Australian Jewish life.
