Sport Melbourne Cup prize money to increase

07:22  13 february  2018
07:22  13 february  2018 Source:   wwos.ninemsn.com.au

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Melbourne Cup to increase prize money . The Melbourne Cup has a long tradition, with the first race held in . Where does the money go?. Melbourne Cup Horses Who Can Run in the Cup ?

The 2018 Melbourne Cup will offer the biggest purse in history with Racing Victoria raising the purse to .3 million in prize money ; Emirates Airlines are the major sponsor. Prior to this year's increase the Melbourne Cup was worth .2 million.

The prize money for the $6 million Melbourne Cup will increase this year, although the Victoria Racing Club insists there is no competition with The Everest in Sydney.

VRC chairman Amanda Elliott says there will be movement on the Cup prize money, which will be announced when the board has decided the size of the increase.

Elliott said there is no competition with the world's richest race on turf, The Everest.

"It's not about a competition," she said on Tuesday.

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Melbourne Cup Prize Money 2018. The Melbourne Cup is Australia’s most prestigious race – and the world’s richest staying handicap - with total prize money of .3 million this is an increase of .3 million from the previous year's race.

The VRC expects the Melbourne Cup prize money to increase , as a new sponsor is named. The prize money for the million Melbourne Cup will increase this year, although the Victoria Racing Club insists there is no competition with The Everest in Sydney.

"We don't do anything in response to what happens across the border.

"Good luck to them. I hope they survive 158 years."

The prize money for The Everest has been boosted to $13 million this year from $10 million for the inaugural race, held at Randwick in October.

Sydney-based trainer Gai Waterhouse, who is a VRC ambassador, also does not believe there is any competition between the 3200m Cup and the 1200m Everest.

The Melbourne Cup trophy. © Michael Dodge/Getty Images The Melbourne Cup trophy. e Everest is a very new race and the Melbourne Cup's been going over 150 years.

"Victoria has a public holiday. Over 100 countries watch the race. It's basically the race that stops the nation.

"So I don't think you really can compare them."

Waterhouse, who won the Cup in 2013 with the previous year's runner-up Fiorente, does not believe the race needs a prize money boost.

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The prize money for the million Melbourne Cup will increase this year, although the Victoria Racing Club insists there is no competition with The Everest in Sydney. “I don’t know if they have to increase their prize money any more.

FIFA announced 40% increase in the total prize money pool for 2018 FIFA World Cup where 0 million will be distributed among 32 federations how they finish in the tournament. .5 million will be awarded to every 32 teams as participation bonus.

"Four or five million looks pretty good when you win it, I can tell you.

"We paid a lot of money for Fiorente when we bought him. When we ran second on the first Tuesday in November he paid his purchase price, running second.

"I don't know if they have to increase their prize money any more.

"It's a lot of prize money and people come from all over the world to be able to win that prize money and take away the coveted prize."

Car maker Lexus has signed on as the fourth principal partner of the Melbourne Cup in a five-year sponsorship deal, replacing 2004-2017 Cup sponsor Emirates airline.

The VRC staged a "race" between racehorse and car down the Flemington straight. The horse won.

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