Wednesday, December 14, 2016

The Horse Race of 2017

The Pegasus Cup.  It's coming in January and it's turning horse racing on its head.  It's the brainchild of a billionaire racing aficienado, Frank Stronach (who founded Magna International, a Canadian auto parts company), and it's an interesting concept that adds something new and different to the calendar outside of the Triple Crown, The Breeder's Cup and Dubai.  And it's in January in Florida, giving real horse race lovers something to look forward to in the dead of winter. You can read about it here.

 (Arrowgate after winning the Breeder's Cup Classic in November)

 The purse is a staggering $12 million making it the world's richest horse race.  The race will be run on the dirt, at 11/8 miles.  There are 12 slots, all sold, for $1 million each.   The $1 million entry fee buys you a stall in the starting gate, one that you can sell, lease.  Interesting concept. California Chrome has a stall.  Arrogate does not.  There's even a pizza entrepreneurer who was smart enough to buy one even though he does not have a horse. Wonder how much he's willing to sell his stall to Arrogate's owners?

(California Chrome)

The funders who own the stalls will share in the proceeds from the race.  Each gets a percentage of the handle and sponsorship revenue.  $7 million goes to the winner, $1.75 to second, $1 million to third, and $250,000 to the fourth through 12th place finishers.  The race goers say it's another Arrogate and Chromie rematch.  Pundits say it's not right to put horses in a race they know they have no chance of winning. I'd love to be there to see it. 

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