Racing Victoria Ltd has announced a 10% increase in Melbourne Cup prizemoney. The two mile staying feature that dominates the Melbourne Spring Carnival will now be worth a staggering $5.5 million.
The 2008 Emirates Melbourne Cup will enjoy a $500,000 increase on last year’s event to maintain it’s standing in the world of thoroughbred racing as the second richest turf race in the world behind the Prix de l’Arc de Triomphe.
VRC Chief Executive Dale Monteith said, “We regard the Cup as the staying championship of the world and we want it to maintain that standing,”
“An increase of 10% for the prizemoney will ensure that the 2008 Emirates Melbourne Cup maintains its relativity amongst the leading races of the world, providing an appropriate reward for those who take up the challenge to win ‘The Race That Stops A Nation,”
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