The Everest will run as race seven at Randwick on Saturday.

WHAT IS IT?

* A $13 million race over 1200m at weight-for-age offering a $6 million first prize purse down to $300,000 for sixth to 12th place.

* A dozen slots are sold at $600,000 a year with buyers committing for three years but able to sell, lease or joint-venture

HOW DID IT COME ABOUT?

* An idea by Racing NSW chief executive Peter V'landys modelled on the Pegasus World Cup (1800m), run for the first time in Florida in January, 2017 offering up $US12 million ($A15.4m)

WHO OWNS A SLOT?

* Greg Ingham's GPI Racing, Max Whitby Syndicate, James Harron Bloodstock, The Star Casino, Jadeskye Racing, Chris Waller Racing, Inglis, Australian Turf Club, TAB, Yu Long Investments, Aquis Farm, and Coolmore

WHO WILL RACE?

* Vega Magic, Trapeze Artist, Santa Ana Lane, In Her Time, Redzel, Shoals, U S Navy Flag, Viddora, Brave Smash, Graff, Osborne Bulls and Le Romain

* The first internationally trained horse US Navy Flag is an Irish sprinter trained by the world's best trainer Adrian O'Brien and is the winner of the July Cup

IS IT THE RICHEST HORSE RACE IN THE WORLD?

* No. But it's billed as the world's richest race on turf. While the Pegasus and the 2000m Dubai World Cup ($US10m, $A12.84m) both carry more prize money but are run on dirt. The Melbourne Cup is worth $7 million

ENTERTAINMENT

* Former One Direction member Liam Payne will perform after the final race

* Former Miss World Australia Erin Holland will perform the National Anthem

*Home and Away star and former Bachelorette Sam Frost is this year's ambassador

KEY QUOTES:

"I think all three horses will be confident in it ...I think the track will be affected but I don't think it will concern my horses," - Le Romain, In Her Time and Graff's trainer Kris Lees

"Like everyone, we're a bit concerned if it's a really heavy track. But a soft track we're confident he'll be right there," - Vega Magic's trainer David Hayes

"The rain dampens it a little bit but he's not completely hopeless on it ... he's just not at his best on it," - Trapeze Artist's trainer Gerald Ryan

* "It is one of the most talked-about races around. There is a buzz surrounding this race that I haven't seen before" - Coolmore's Tom Magnier