The Everest has taken the Melbourne Cup's mantle of Australia's richest race

Sydney will host the world’s richest sprint race on turf with the first $10 million The Everest set to be held during the spring carnival.

The Everest will be run at Royal Randwick racecourse over 1200 metres for the first time on 14th 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 spot in the race at a price of $600,000. Racing NSW will contribute $2.8 million into the pool which will come from additional revenues such as TV rights on the race.

The 1200m event will become Australia’s richest race surpassing the $6.5million dollar Melbourne Cup as well as the richest turf race in the world.

The massive prize purse is set to lure the worlds best sprinters and is timed specifically before the Hong Kong International sprints in December.

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Prizemoney distribution

1st – $5,800,000

2nd – $1,425,000

3rd – $800,000

4th – $400,000

5th – $250,00

6th-12th – $175,000

Equine Welfare Fund $100,000

Racing NSW announces $10 million race named ‘The Everest.’ 1200m race on October 14 at Randwick. — Matt Kelly (@matty_kel) February 1, 2017

Racing NSW will put in $2.8 million which will come from additional revenues like TV rights around the world to show the Everest. — Andrew Bensley (@AndrewBensley) February 1, 2017

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