This masthead has established a long-held Victoria Racing Club (VRC) dream \u2013 a $10m Melbourne Cup \u2013 has finally been realised.<\/p>\n
Racing Victoria is set to confirm prizemoney for the 2025-26 season, as early as this week.<\/p>\n
The Melbourne Cup has carried an $8m prizemoney pool since 2020 \u2013 marketed as $8.75m including the iconic 18-carat gold three-handled trophy, valued at $750,000.<\/p>\n
It is only the sixth significant prizemoney boost for \u2018the race that stops a nation\u2019 since 1990 \u2013 the first seven-figure ($1m) purse.<\/p>\n
The Melbourne Cup has increased in 2000 ($2m), 2009 ($5.5m), 2010-17 ($6-6.2m), 2018 ($7.3m) and 2019 ($8m).<\/p>\n
RV controls prizemoney in the thoroughbred racing industry.<\/p>\n
PUNT LIKE A PRO:<\/b><\/a> Become a Racenet iQ member and get expert tips \u2013 with fully transparent return on investment statistics \u2013 from Racenet\u2019s team of professional punters at our Pro Tips section. <\/b>SUBSCRIBE NOW!<\/b><\/a><\/p>\n The VRC has lobbied RV since 2022 for a $10m Melbourne Cup, as part of annual industry-wide prizemoney submissions to RV.<\/p>\n This masthead in May revealed the latest VRC bid again included a $10m Cup wish.<\/p>\n RV rejected past submissions due to a tough economic and wagering environment. <\/p>\n READ:<\/b>\u00a0\u201cAwesome again\u201d: Stern Idol reigns supreme in Thackeray test<\/a><\/p>\n Wagering returns, which fund the racing industry, dropped 10-15 per cent year-on-year after an explosion during the Covid pandemic.<\/p>\n While wagering income and cost control remains crucial, better collaboration between RV and stakeholders, including racing clubs has allowed for important prizemoney adjustments.<\/p>\n The total Victorian prizemoney pool \u2013 $316m last season \u2013 is likely to largely be retained but greater flexibility at club level, in particular, to redistribute funds has afforded select changes.<\/p>\n It is understood the VRC has been able to trim prizemoney off other feature races to achieve the $1m and change required to secure a $10m Melbourne Cup.<\/p>\n The All-Star Mile and Australian Cup dropped from $3m to $2.5m last season.<\/p>\n The Group 1 features could be subject to further reductions.<\/p>\n RV chief executive Aaron Morrison declined to comment on prizemoney discussions.<\/p>\n However, Morrison said any changes for the upcoming season would benefit Victorian racing from grassroots to the top tier.<\/p>\n Australia\u2019s best race, the Group 1 W.S Cox Plate (2040m)<\/a>, could jump to $6m \u2013 up from $5m \u2013 ahead of a historic last weight-for-age championship on the traditional Moonee Valley racecourse.<\/p>\n The Valley is being redeveloped after the 2025 Cox Plate, with a return to racing on a reconfigured circuit slated for 2027.<\/p>\n RV has yet to anoint a host for the 2026 Cox Plate but Flemington remains the logical frontrunner.<\/p>\n