Vela supported McDonald when he was a young Waikato rider full of ability and big dreams all those years ago. He also stood by him when McDonald was exiled from racing for 18 months and the phone didn't ring quite so much.
So if Long Leaf is in the thick of the finish for the 1600m Classic early this evening the champion Sydney jockey won't give a thought to his winning percentage.
"I know it is a tough race but if he could win it for Sir Peter, and the other owners, on his big night, that would mean the world to me," enthuses McDonald.
McDonald has always loved Ellerslie but never more than Karaka Million night. "It is an awesome meeting and I love coming home for it.
"The money is really big now but I love the atmosphere. There are good horses and plenty of good riders and it is fun. It has a real buzz."
While loyalty will matter far more than money to McDonald today, the coin still rules for punters and McDonald has encouraging words for anybody eying the each way odds about Long Leaf, a rare David Hayes-trained starter in New Zealand.
"He is a good horse, he has raced the best ones in Australia, he went huge in the Slipper last season.
"I think he is a great chance of running in three and he can win.
"And I am really looking forward to riding Maison Roxanne (race two) for Sir Peter too. I think she is a really promising filly and I have got a bit of a soft spot for her."
McDonald is not without a serious chance in tonight's other big one, the Karaka Million, riding Aotea Lad for another long-time supporter in Te Akau's David Ellis.
But he knows better than anybody that youngster will want a hot early tempo to bring the leaders back to him, especially with Whiskey Neat drawn to hug the rail.
As for Vela, winning a $1m race which was once only an idea in the back of his mind would bring special satisfaction.
It is not about big-noting in front of the hundreds of sales clients Vela's New Zealand Bloodstock will have attracted to the meeting.
After all, when you have won the Melbourne Cup and ridden down the Royal Ascot straight in a carriage as a guest of the Queen, your racing credibility stocks are pretty high.
But Vela admits tonight is special to him. "We are so proud of what this meeting has become," he beams.
"It has taken a lot of work from a lot of people. We had to underwrite it initially but both Ellerslie and even Trentham (moving dates) have helped make it what it is."
Vela has won the Classic with Banchee back when in 2011 it was worth $200,000 but tonight it is about the people involved as much as the horse.
"I'd love to win it. We are in him with some great people but I'd especially love to see James back here winning on our big night," says Vela.
"It is a very strong race. A bit of a double-edged sword really. The race has got to the level we hoped it would be all those years ago. But that makes it harder for us to win."
Karaka-ing night
• What: Karaka Million meeting.
• Where: Ellerslie.
• When: First race at 4.41pm (note, slightly earlier than originally programmed).
• Who: The best young thoroughbreds in New Zealand with two Australian raiders.
• How much: Two races worth $1 million; two of $100,000 and two of $70,000.
• Watch: Preview starts on the Punters Lounge, Trackside TV at 10am.
• Social side: One of racing's biggest after parties of the year in designated areas.
• Pay day: Boys Get Paid Facebook group have over $165,000 for their punting club on the meeting.
