By Steve Sherack
BALTIMORE, Md. – All 12 spots for the inaugural $12-million GI Pegasus World Cup–to be held at Gulfstream Park Jan. 28–have been filled, The Stronach Group announced Thursday morning in a press conference held at Pimlico.
Owners holding entries in the world's richest race, at a cost of $1 million apiece, include: 1) California Chrome LLC; 2) J. Paul Reddam; 3) Jerry & Ronald Frankel; 4) Jim McIngvale; 5) Michael Tabor, Derrick Smith & John Magnier; 6) Sol Kumin & James Covello; 7) Starlight Pegasus Partners; 8) Dan Schafer; 9) Rosedown Racing Stables (Jeffrey Weiss); 10) The Stronach Group; 11) Reeves Thoroughbred Racing; 12) Ruis Racing.
Stronach was prepared to purchase as many as three spots if necessary.
“We at the Stronach Group believe that this is going to be an industry game changer,” said Belinda Stronach, Chairman and President of The Stronach Group. “The Pegasus World Cup represents the Stronach Group's ongoing commitment to invest in the future of horseracing–to make it more viable, to make it more exciting and to modernize the sport to attract a whole new generation of fans.”
“We were oversubscribed by Tuesday,” added Jack Wolf, CEO of the Pegasus World Cup and founder of Starlight Racing. “We had 14 people wanting the 12 spots. One ended up partnering with another outfit and the other dropped out. Everybody is paid up and the deal is closed with the 12 entrants.”
The Pegasus World Cup, to be contested at 1 1/8 miles, will replace the GI Donn H. on the Gulfstream Park stakes schedule for 2017. Horses running without Lasix in the Pegasus World Cup will receive a five-pound weight allowance.
Owners can choose to race, lease, contract or share a starter or sell their place in the starting gate. Original entrants will also have the first option to participate in future Pegasus World Cup races. All entrants will also share equally in 100% of the net income from handle, media rights, and sponsorships from the Pegasus World Cup. The winner's share of the purse is $7 million.
“We think it's a great new concept and obviously it was received really well,” The Stronach Group's Chief Operating Officer of Racing Tim Ritvo commented. “Gulfstream Park has been a brand like The Stronach Group to initiate new thoughts and new beliefs in racing and we hope that we can have an exceptional event.”
As for the timing of the race, Ritvo said, “I think it's important to recognize that the placement of this race was not to be disruptive to any other successful series. It's in between the Breeders' Cup and Dubai World Cup and also scheduled before the breeding season.”
Ritvo added that talks with networks have begun to nationally televise the event.
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