GPI Racing is selling its slot in this year's renewal of the $14 million The Everest.
GPI Racing’s Greg Ingham said the decision to relinquish its slot was largely based on the retirement of star sprinter Chautauqua.
The six-time Group 1 winner was retired last September after he failed to jump with the field in a number of barrier trials.
"When we purchased our slot in The Everest, it was with a view to our champion Chautauqua competing in the race year after year," Ingham said.
"He is essentially retired therefore we have decided to make the opportunity to be part of this great race available to someone else.
"It is already an incredible sporting spectacle and we have loved being a part of it in its first two years and there is no doubting that the third renewal is going to be even bigger and better again."
Racing NSW ceo Peter V’Landys welcomed what he believes will be "intense interest" in the available slot.
"It was always envisaged that the slots in The Everest would be tradeable," V’Landys said.
"Accordingly, we are happy that this part of the concept is being utilised as this adds even further intrigue to the race.
"With prizemoney of $14 million, it’s potentially very good value for an owner of a horse that may be otherwise a fringe contender to get a start in the race.
"The successful buyer of the slot will then be part of, and a personality in, one of the most exciting and publicised sporting events in Australia."
Inglis will manage the sale process, which will involve interested parties submitting bids through an expression of interest process over the next nine weeks.
The Everest will be run at Randwick on Saturday October 19.
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