09/26/2016 11:42AM

NBC to televise Pegasus World Cup

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Benoit & Associates
The owners of California Chrome (above) hold a berth in the Pegasus World Cup.

The inaugural Pegasus World Cup, a proposed $12 million race that is scheduled for Jan. 28 at Gulfstream Park in Hallandale Beach, Fla., will be broadcast live during a 90-minute telecast on NBC, the network and Gulfstream’s parent company, The Stronach Group, announced on Monday.

The Stronach Group negotiated the deal over the past several months, according to officials, with the company paying for the broadcast costs in what is known as a rights-sharing deal. The deal gives NBC the exclusive broadcast rights for the race, including the rights for live-streaming on the internet and on mobile devices. A release said that NBC plans to make the broadcast available on all of its platforms.

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The Pegasus, which was first proposed in January by The Stronach Group’s founder, the billionaire owner-breeder Frank Stronach, is open to those who paid $1 million for starting berths. The owners of the berths are free to sell, lease, or otherwise market the berths. Already, one of the groups that bought a berth has sold its stake. [For a detailed analysis of the race, go here.]

Those who hold berths include Stronach; the owners of the top-rated horse in the world, California Chrome; the partners behind the international racing and breeding operation Coolmore; and a smattering of individuals and partnerships that by and large do not yet have top-class horses that would fit in the race.

Owners of the berths are also entitled to a share of the income from most of the betting on the race and any sponsorship or promotional revenues from the Pegasus. The winner of the race will receive $7 million.