Caravaggio has firmed to $7 second favouritism for The Everest with Coolmore's Tom Magnier confirming the race is a target for the unbeaten colt.

Magnier said Coolmore bought a slot in the $10 million race with Caravaggio at the forefront of the organisation's mind.

The three-year-old added the Group One Commonwealth Cup to his record at last week's Royal Ascot meeting to take his record to six wins.

"Aidan (O'Brien) is very excited. He says he is the fastest horse that he's trained," Magnier told Sky Sports Radio.

"We took a slot in The Everest. We have had him in mind for our slot for a while."

Caravaggio is next expected to contest the July Cup at Newmarket against older horses.

Chautauqua is the $4.60 favourite for The Everest which will be run on October 14 over the 1200m-course at Randwick, the scene of his three TJ Smith Stakes wins.

Golden Slipper winner She Will Reign is at $8 and is back in Gary Portelli's stable getting ready for the spring.

"The plan is to give her a lead-up in the Moir Stakes in Melbourne," Portelli said.

She Will Reign will run in the race for Yulong Investments while multiple Group One placegetter Fell Swoop will represent slot-holder William Inglis and Son.

The TAB has bought a slot in the subscription only race and is expected to announce its choice in early July.

The Australian Turf Club has called for tenders for its spot with that process yet to be completed.