Pegasus World Cup

History

Frank Stronach first proposed the idea for the race during the Thoroughbred Owners Conference at Gulfstream in January 2016. His original proposal called for an annual  1 ¹⁄₄-mile (10 furlong) race to be run at either Gulfstream or Santa Anita Park in mid to late January, which would not interfere with the Breeders' Cup or the Dubai World Cup. The timing also makes it possible for a horse to run one last race before retiring to stud, as the North American breeding season begins in mid-February. "I think racing usually has a little lull this time of year – we have to wait for spring for something to happen," said trainer Bob Baffert in January 2017. "When I heard about the idea last year, I thought wow, American Pharoah probably would have been in there for one more try at it."

The Stronach Group officially announced plans for the race in May 2016, with the distance shortened to  1 ¹⁄₈ miles (9 furlongs). Entrants carry 124 pounds (56 kg) with a three pound allowance for fillies and mares. Horses that run without the use of the pre-race medication furosemide (more commonly known as Lasix) receive an allowance of five pounds.

Under the format, 12 shareholders each pay $1 million to purchase a position in the gate for a then unspecified horse. The shareholder then has the right to race, lease, contract or share a starter, or sell their place in the gate, and would have the first right of refusal for subsequent races. Shareholders also have an equal share in the net income from the race.

Each shareholder is permitted to pre-enter two horses. A pre-entered horse that does not draw into the Pegasus World Cup is eligible to compete in the newly created Poseidon Stakes, which is run under similar conditions but offers a $400,000 purse and requires a $20,000 entry fee.

2017 Running

One week after the formal announcement in May 2016, the Stronach Group announced that all 12 slots for the race had been purchased. The initial shareholders and their associated entries were:

The first running of the race carried Grade I status, which was transferred from the discontinued Donn Handicap by the American Graded Stakes Committee. A new stakes race would normally have to wait two years before being eligible for any graded or listed status.

Gun Runner, who would likely have been the third choice in the field, was refused entry due to a disagreement over testing protocols arising from a quarantine at Fair Grounds Race Course in New Orleans. His owners, Winchell Thoroughbreds and Three Chimneys Farm, had negotiated with shareholder Ruis Stable for a spot.

The race was promoted as the final match-up between California Chrome, the two-time American Horse of the Year, and Arrogate, ranked by the IFHA as the World's Best Racehorse of 2016. California Chrome drew the outside post position which caused him to be carried wide in the first turn. He eventually settled behind the early leaders alongside Arrogate but could not respond when the latter made his move, possibly having wrenched his leg early in the race. California Chrome was eased to prevent the possibility of further injury and finished ninth. Meanwhile Arrogate swept to the lead and drew off to win by nearly five lengths over longshot Shaman Ghost. The timing of the race proved controversial. The official time, measured by Trakus based on transmitters in the horses' saddlecloths, was 1:47.61. However, clocking experts hand-timed the race almost a second faster, at 1:46.9. The timing controversy caused the Beyer Speed Figure for Arrogate to be increased from 116 to 119. Gulfstream did a frame-by-frame video analysis and determined the correct time was 1:46.83, a new track record.