EARLIER this month news emerged from Australia that a new race restricted to horses owned by syndicates will be run from next year with a colossal purse of Aus$1m which equates to just short of €1m. The six-furlong event will be open to horses aged three or over and in order to secure a starting position horses must be owned by a minimum of 20 individual owners or syndicate members from the time they make their debut.

Such a concept is a testament to the vibrancy of syndicate ownership in Australia and the level that it operates at. It is impossible to disagree with the view of Magic Millions managing director Barry Bowditch that such a race will drive significant growth in participation and investment both new and renewed.

Pipedream

For this part of the world a race of such value restricted to syndicates is nothing more than a pipedream at present. This is not to cast any aspirations on syndicate ownership in Ireland as that cohort of owners represent a significant proportion of the entire ownership landscape. To its credit back in 2019, Horse Racing Ireland announced a pilot scheme which encompassed a series of three €15,000 races which were confined to horses owned by syndicates and racing clubs and these races were reasonably well subscribed.

The question begged by events in Australia is whether racing in Europe could ever get to the stage that it could offer a purse of €1m for a race confined to syndicates or racing clubs.

The Australian announcement prompted some well-meaning thoughts concerning the creation of syndicate only races on a high profile stage such as Cheltenham or Royal Ascot.

The point is to examine how racing in Australia is in a position to offer such riches for syndicates. We need to consider closely how syndicate ownership in the southern hemisphere is operating at such a rarefied level and is this something that racing in this part of the world could aspire to in the next decade because it will inevitably require that level of long-term planning. Such an examination might be a good deal more beneficial rather than simply creating a syndicate race or two on a high-profile day because of events in Australia.

Further news also revealed that the 2023 Magic Millions raceday card in Australia will stage the world’s most valuable two-year-old maiden, The Debut, which will carry a staggering purse of Aus$500,000. This is a truly incredible amount of money on offer for a maiden which will take place on a 10-race card with eight of those races carrying seven-figure purses.

The value of these races in Australia indicates how far Europe could fall behind other major racing jurisdictions. Racing here has the allure and prestige of classic races such as the Derby, plus Royal Ascot, Irish Champions Weekend and the Arc de Triomphe meeting. However, we are in an era where prestige and allure will only count for so much and the potential is there for wealthy owners to have their interest piqued by the untold riches that are on offer elsewhere in the world.

Europe will retain its pre-eminent position in the racing world for the time being but the foundations have been laid for that to shift and the time has come for racing in these parts to start looking further afield as to what is going on rather than relying on intangible notions of prestige.

Shishkin and Energumene square off at Ascot

POTENTIALLY one of the seismic clashes of the season will take place at Ascot this afternoon as Shishkin and Energumene square off in the Grade 1 Clarence House Chase.

Between them the pair have won their 11 races over fences. Both are dual Grade 1 winners over the larger obstacles and both were highly impressive as they ventured outside of novice company for the first time last month. This could herald the start of an engaging new rivalry that the two-mile division has perhaps lacked for some time.

Happily such a clash means that this year’s Clarence House is worthy of its Grade 1 status but many still hark back to the race’s runnings as a handicap when it served up some tremendous spectacles such as that epic duel between Desert Orchid and Panto Prince some 33 years ago. With two heavyweights taking each other on this afternoon the small field size is understandable. However, only once in the previous four runnings has the race attracted more than five runners.

By contrast in its final four years as a handicap (2003-2006) the race formerly known as the Victor Chandler had field sizes of 10, 10, 13 and eight. Recent evidence would suggest that today’s feature would be better for a restoration to its former conditions but in the meantime sit back and enjoy a mid-January clash of rare and distinguished quality.