May 19, 2020
Australia’s richest race will have a people’s slot in 2020, with punters able to buy a stake in an Everest slot for just $880.
Micro-ownership trailblazers miRunners have launched miEverest after they purchased the GPI Racing slot for the $15 million Everest earlier this year. Having paid $800,000 for the slot, miRunners will offer stakes to the public in the form of 1000 micro-units from Tuesday.
“The Everest has been the most successful innovation in racing this century and this takes it to the next level,” MiRunners chief executive Steve Brown said.
“The race has attracted interest from around the world and record crowds to Randwick, and now people can now go from spectator to player. The Everest dream is no longer restricted to millionaires – it can be everyone’s dream now.”
Confirmation of the $15 million prize pool by Racing NSW for The Everest has allowed miEverest to launch their website miEverest.com.au where people can register interest in buying micro units from Tuesday.
There is no mark-up on the units, apart from GST, and each micro unit will be paid prizemoney won by the miEverest runner on a pro-rata basis. Micro-unit owners will be part of the process of choosing the horse and will have access to exclusive content produced by miEverest – and, hopefully, the chance to be part of Everest day.
“Slotholders will be involved from picking our horse to hopefully winning the worlds richest race on turf,” Brown said.
“We have put together an expert panel to help chose our horse but the shareholders will also have their vote in the final decision.”
The miEverest panel is made up of Sky Racing’s Lizzie Jelfs, former jockey Tye Angland, former Test cricketer Mark Waugh and Australia’s leading form analyst Daniel O’Sullivan. The fifth and final vote will sit with slotholders.
The model for miEverest is based on the successful miRunners operation, which has already introduced thousands of people to the excitement of horse ownership.
GPI Racing, which is owned by Greg and Barb Ingham, is delighted to see its slot used to spread among the general public.
“We invested in this aspirational race to be part of one of the most exciting opportunities Australian racing has to offer,” Barb Ingham said.
“We couldn’t be happier to sell our 2020 Everest slot to the miEverest team, as their model allows all Australians the unique opportunity to share in a rare world-class event that we have had the honour of experiencing.”
Racing NSW chief executive Peter V’landys told the Asian Racing Conference in February he believed micro-ownership is the future of racing.
“I think my next challenge is to find new owners, new participants. These initiatives where you have got hundreds, even thousands of owners owning 10, 20 horses, we need to expand on,” V’landys said.
“It doesn’t matter if you own one percent or 90 per cent, it is the same experience that you own that horse.
“I think we need to expand to getting people involved in ownership at a micro level. You could own less than one per cent on 50 horses, but that gives you an interest. There is nothing more that you want to watch than when you own a racehorse.”
There are plans for shareholders to have their own function on Everest but it will depend on if Covid-19 restrictions are lifted by October and Brown sees this as a chance for people to come together.
“The Everest has been a revelation for the industry in terms of the level of excitement and engagement it brings to the sport,” Brown said.
“Purchasing the Everest slot and splitting it into affordable units is based on the same underlying goals and objectives of miRunners; to make the top end of horse ownership experiences accessible to everyone. Now miEverest takes this to a whole new level.
“In this COVID world, we really want to encourage groups to form up, position themselves for a bonding experience beyond anything they have done together before and buy their slot as a team.
“It’s a unique opportunity for social clubs, offices, sports teams, old school friends and groups of ten mates to get together and spend $88 each for their slice of the action – their piece of the Everest.
“We’ll be pushing out regular content to bring everyone along for the ride, allowing them to get to know their horse, their trainer and their background stories in detail.”
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