The Stronach Group announced April 5 plans to raise the purse of the Pegasus World Cup Invitational Stakes (G1) to $16 million for 2018, further enhancing its status as the world's richest Thoroughbred race.

The inaugural edition of the Pegasus World Cup was contested at Gulfstream Park Jan. 28 for $12 million with owners, or their stakeholders, each putting up $1 million for a spot in the starting gate. The  2018 Pegasus World Cup Invitational, which will again be contested at Stronach-owned Gulfstream Park Jan. 27, will follow that format with the additional $4 million to be contributed by The Stronach Group. 

"The 2017 Pegasus World Cup Invitational surpassed our expectations and we believe took the sport of Thoroughbred racing to an exciting new level," said Belinda Stronach, chairman and president, The Stronach Group.  "Our company is committed to building on the momentum that was inspired by our founder and honorary chairman, Frank Stronach. In 2018, we will bring an even bigger, more modern and unforgettable entertainment experience to a global audience."

The Pegasus World Cup surpassed the $10 million Dubai World Cup Sponsored by Emirates Airline (G1) as the world's richest race. However, in an interview with CNN Sports during this year's Dubai World Cup card March 25, Sheikh Mohammed announced his intentions to raise the purse of the 2,000 meter test to a level that would again make it the loftiest in the sport.

Both the 2017 Pegasus World Cup and the Dubai World Cup were captured by Juddmonte Farms' champion Arrogate, who now stands as North America's all-time leading earner with more than $17 million in career earnings.