Racing: Cup favourite's value soars to $10 million

Trotting sensation Auckland Reactor cooling down after track work this week. Photo / Greg Bowker

Auckland Reactor has become New Zealand's first $10 million racehorse.

That is the value the champion pacer will carry into tonight's $600,000 Trillian Trust Auckland Cup at Alexandra Park in what is shaping as the showdown of Cup week.

Auckland Reactor, beaten only once in 20 starts when he was desperately unlucky, will have his first clash with open class superstars Monkey King and Changeover in tonight's classic.

While Changeover is already a racing millionaire, Auckland Reactor has skyrocketed to a value never previously reached by a New Zealand racehorse of any code.

The 4-year-old's manager, John Curtin, said that Auckland Reactor was now valued at more than $10 million.

He was sold to a North American syndicate last season for $3.6 million, then the second-highest price paid for any New Zealand racehorse. But his dominance of harness racing since then makes that sale a bargain.

"One of his current owners put the feelers out recently that he was willing to buy another 10 per cent share in the horse for US$500,000 and none of the others would sell. And we have other outsiders keen at that price too," said Mr Curtin. "So that makes him worth at least US$5 million, which is about $10 million of our money."

It is not just the stallion's owners who are finding Auckland Reactor capable of reversing the recession. Racetracks have been cashing in on his mass appeal, with crowds almost doubling wherever he goes.

Which makes the decision of Alexandra Park officials not to charge admission to their Cup meeting tonight even more remarkable.

"Like every other business we could do with the money, but we want people to be able to see a champion for free," said Auckland Trotting Club president Rod Croon.

He says the threat of rain does not greatly hinder Cup night.

Auckland Reactor is the $1.40 favourite for the Cup, which is run at 9.50pm.