Record stake for Melbourne Cup

Press, 23 June 1978, Page 4 (Supplement)

Record stake for Melbourne Cup

NZPA Melbourne The Melbourne Cup will! be worth a record $209,000.' this year. The Victoria! Racing Club has announced! an increase of $53,000 inprize money for Australia’s! greatest race. In doing so iti has withstood the challenge] issued by the West Austra-l lian Turf Club last vear. Then the W.A.T.C an-] nounced prize money of, $175,000 for this year's Aus-] tralian Derbv. The secre-! : tarv of the V R C., Mr Murray Cox, intimated that his,: club was not entering a' stakes race with the!' W.A.T.C "But we will try! and keep the Melbourne Cup as Australia's richest race'i where it is financially pos- ’

. sible.” Last year’s cup was (worth $150,000 plus a trojphy valued at $6,000. The ,25 per cent increase this ■ year has been made possible ■by the V.R.C.’s decision to (allow the cup carnival to be (televised five for the first (time. Part of the club's (revenue from the sale of : television rights will be jllo|cated to the cup prize money. The cup winner Jhis year will get $139. MK) ;plus the gold cup worth $9,000 Second prize will be (worth $40,000 third $20.000 (and fourth prize $lO,OOO The increase means the cup is now worth more 'han (the English Derby, and is (on a na- with Europe's richest race, the Prix de I’Arc de Triomphex.