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Stronach Group proposes $12M race

HALLANDALE BEACH, Fla. -- The operator of Gulfstream Park and Santa Anita Park is proposing an idea to create the world's richest horse race, one with a $12 million purse.

Frank Stronach, the founder of The Stronach Group, says the race would be called the Pegasus World Championship. It would be run at either Gulfstream or Santa Anita, over 1 1-4 miles on dirt and scheduled for January to avoid conflict with the Breeders' Cup and Dubai World Cup.

The plan calls for attracting 12 shareholders who will each invest $1 million. Those shareholders could then enter one horse per share in the world championship race.

The richest race currently run worldwide is the $10 million Dubai World Cup.

It remains unclear when or if the Pegasus race could be first scheduled.