Racing NSW chief executive Peter V'landys defended the scheduling of the $10 million The Everest, claiming its timing could prove a boon for Melbourne's Spring Carnival, reports

The announcement of the new race to be held on October 14 in 2017, clashing with Caulfield Guineas Day, certainly created much discussion about who would possibly head to the race, and whether or not the entry fee of $600,000 per year for three years for connections purchasing a spot in the race would be a sustainable model.

V'landys said on RSN 927 on Thursday that by no means was it a direct attempt by RNSW to direct attention away from the Melbourne spring, in fact, there is every chance feature sprints at Moonee Valley and Flemington will benefit.

"Absolutely not. Never has been, never will be," V'landys replied, when asked if the 1200m feature was designed to encroach the airspace of Melbourne's carnival.

"The race is 1200m, last time I looked the Melbourne Cup was 3200m, so it's not competing against the Melbourne Cup.

"We've also put it in the calendar to complement the Victorian Spring Carnival. The Manikato's two weeks later, the Darley's two weeks after that ... if we are able to attract international horses, that'd only be good for Melbourne as they'd stay on and go to those two races.

"So really, they'd be coming to Australia to compete for $12m, instead of $10m.

"The whole idea is to generate publicity for racing, because it's got so much controversy with it.

"We have to tick the box straight off the bat, because very rarely do we get the front pages for racing in NSW ... and probably the biggest coverage the NSW industry's ever had in the Herald Sun, as we're the back page in that [on Thursday]."

V'landys reinforced that to participate in the unique race, styled on the Pegasus World Cup which had its first instalment last weekend, the owners of a particular horse do not have to be the bankrollers of the entry fee.

"What we love about the concept is you don't have to own a horse to be in the concept," he said.

The response from Victorian race clubs has been rather positive too, flying in the face of the viewpoint that the move was a shot fired in the supposed state rivalry.

Victoria Race Club chief executive Simon Love said he feels the sprint won't take any gloss off the $6.2m Melbourne Cup.

"We applaud any innovative new concept in racing. Anything that gets racing on the front pages of the mainstream daily newspapers, is obviously a good thing for racing," Love told RSN 927.

"In terms of eclipsing the Melbourne Cup prizemoney, we always love to be deemed the number one race in Australia - and I think we still are.

"We review prizemoney each year, and as long as we're getting the best possible field of international stayers, and we do that year on year, we don't see an issue with it."

Melbourne Racing Club chairman Mike Symons said having watched the Pegasus World Cup, he was fully behind the announcement - and said it will boost Caulfield Guineas Day further by making it an Australian showcase to the world.

"I'm a big fan of the concept, and it's fair to say most of the racing community in Australia was watching the Pegasus World Cup in Florida last Sunday, to see the success or otherwise of that event," Symons told RSN 927.

"The fact they had the two highest-rated horses in the world contesting that event, together with the build-up and promotion taking racing into a sphere it rarely goes into, I thought it was an extremely positive outcome.

"Full credit to the ATC and to Racing NSW - the key to its success will be selling the slots, and to be able to do that on a sustainable basis.

"I can see why they're doing it over a three-year period because they want to make it a Group 1 race in time.

"My question mark will be the slot owners of horses fourth to 12th, and therefore are underwater entry-fee wise, if they're going to have an ongoing appetite to participate.

"If there is a liquid market and if it's deep enough, I think it can be an absolute success.

"From a Caulfield Guineas Day perspective, I think it enhances the raceday throughout Australia.

"The global focus of racing will be on Australia, Sydney and Melbourne will both have feature races and that only enhances the product we've got to sell globally."