Tentative plans have been floated in America for a Pegasus World Championship race worth $12million.
The idea was proposed by Frank Stronach, chairman of the Stronach Group and a leading owner Stateside.
The race would be staged some time in January to avoid a clash with the Breeders' Cup, and held at either Gulfstream Park or Santa Anita.
Stronach told those gathered at the first day of the Thoroughbred Owner Conference at Gulfstream that 12 prospective shareholders would be invited to purchase a share for $1million, entitling them to a runner for each share purchased in the 10-furlong contest, to be held on dirt.
Quoted on www.bloodhorse.com, Stronach said: "The basic idea is how can racing compete with other great sports?
"We've got to make things exciting, things the press will write about. We want to tell people that love horse racing that we say, 'Look. We want to establish a new business.' We would lease Gulfstream for one day and call it a new business."
Original shareholders will have the first option to participate in future Pegasus World Championship races.
Stronach said he hoped purses in time could eventually reach "$20million or $30 million".
Stressing he did not want to compete with the Breeders' Cup or Dubai World Cup, he added: "A very interesting part of it is the owners would participate in all the winnings - handle, media rights, and sponsorship money.
"In the final analysis, we don't think it would cost that much."