STRONACHS PONY UP

On Pimlico’s turf, inside a white tent hung with horse racing memorabilia and stuffed with vases of peonies, Belinda Stronach sat demurely on a stool, facing down dozens of sweaty, unshaven reporters. Before she spoke, a makeup artist ran a brush through one perfect, gilded curl framing Stronach’s face. Then came the announcement: The Stronach group was launching a new venture in horse racing, the Pegasus World Cup. The first will run Jan. 28, 2017, at Gulfstream Park and carry a US$12million purse, the richest in the world. Owners will buy into the race with a $1-million entry fee; they will share in the revenues, can run their own horse or lease or sell their spot. Stronach says the intention is to invest in the sport, modernize it, draw in a new and younger crowd and bring a new model to horse racing. One gruff reporter asked whether there is any strategy behind the timing to win a television audience — after the end of the regular NFL season and right before the Super Bowl. Stronach tilted her head a little, as if considering just how brilliant that timing might be, but declined to take credit for the idea. Only this needs to be said to explain just how popular this race will be. J. Paul Reddam, who loved the idea, offered to buy two or three spots in the inaugural Pegasus Cup. Stronach had to let him down gently. The spots sold out instantly; Reddam would have to settle for just one.