saudi arabia horse racing champHeld annually since 1996, Dubai World Cup in 2017 grabs the attention of the international sporting community through the fastest horses and highest prize money in the racing world. Now, Dubai has a new rival: Saudi Arabia.

Saudi Arabia General Sports Authority announced The King Abdulaziz Horse Championship which will rival the Kentucky Derby in size and attract competitors from the United States, the United Kingdom and Japan.

Last year's Dubai World Cup offered a $10-million prize for its top race, although media reported prizes for the entire event totaled $30 million. The 2018 Pegasus World Cup Invitational in Florida had a $16-million purse.