The Australian Cup and Blue Diamond Stakes will each get a $500,000 prize money boost to $1.5 million. Racing Victoria also announced on Tuesday the Newmarket Handicap would rise by $250,000 to $1.25 million and the Lightning Stakes and Australian Guineas from $500,000 to $750,000.
The Caulfield Cup prize money purse will be raised to $3 million and a second $1 million three-year-old race installed within October’s Caulfield Cup Carnival as part of a raft of developments announced by the Melbourne Racing Club today.