Horse racetrack operator The Stronach Group has announced plans to run the world’s richest thoroughbred race next year at its Gulfstream Park Racing And Casino in Florida.

The inaugural Pegasus World Cup is scheduled to take place on January 28 at the Hallandale Beach venue and will see every one of the twelve runners pay $1 million for their spot while equally sharing in all handle, media rights and sponsorship net income.

All entrants are to be permitted to lease, contract, share or sell their place in the starting gate with original participants moreover having a first option to participate in future Pegasus World Cup races.

The first of its kind event is the vision of Frank Stronach, founder and honorary chairman of The Stronach Group, and will be run on dirt over 1 1/8 miles. It is expected to attract some of the world’s biggest stars while additionally promoting and generating excitement about thoroughbred racing.

“The Pegasus World Cup will be conducted to the highest standards and will be held on Saturday, January 28, thereby avoiding a conflict with either the Breeders’ Cup or the Dubai World Cup,” said 83-year-old Stronach.

To assist with marketing and coordination duties for its Pegasus World Cup, The Stronach Group has revealed that Jack Wolf, co-managing partner for stable owner Starlight Racing, has been retained as the event’s CEO and will be assisted in his duties by Tom Ludt, a board member for the Breeders’ Cup.

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