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VRC Chair Says Melbourne Cup Not Competing With The Everest

VRC Chair Elliott said that the Melbourne Cup will not get into stakes war with The Everest.GETTY IMAGES

Melbourne Cup prize money is expected to "grow significantly" after the Victoria Racing Club confirmed Lexus' five-year sponsorship deal as club Chair Amanda Elliott "scuttled suggestions the nation's oldest race would be caught up in a stakes war with The Everest," according to Leo Schlink of the HERALD SUN. Worth A$6.25M in '17, the Melbourne Cup remains Australia's "most cherished race." But Sydney's The Everest's A$10M ($7.9M) stake money "has irked Victorian traditionalists." Elliott said, "It's not about a competition. We don't do anything in response to what happens across the border. Good luck to them. I hope they survive 158 years. There'll be movement on the Melbourne Cup prize money this year." Asked how much movement, Elliott said, "I can't tell you that, that's another announcement." Lexus is only the fourth Cup sponsor since '85. Elliott said that the new sponsorship agreement would incorporate naming rights to the Melbourne Cup, Cup Day and the Cup tour, parade and barrier draw. A new sponsor is also "likely to be sought" for the Lexus Stakes, which is run on Derby Day and carries ballot-free status into the Melbourne Cup for the winner (HERALD SUN, 2/12). In Sydney, Cormick & Akerman reported trainer Gai Waterhouse "brushed off comparisons between the Everest and the Melbourne Cup." She said, "The Everest is a sprint race and the Everest is a very new race. The Melbourne Cup has been going over 150 years, it's a public holiday ... over 100 countries watch the race in the world. It's basically the race that stops the nation. I don't think you really can compare." Waterhouse "refused to buy into a debate about whether the Melbourne Cup needed to increase its prize money," adding, "Four or five million looks good when you win it, I can tell you" (THE AUSTRALIAN, 2/13).

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