THE champagne is chilled and the stakes are high as the Welcome To Yorkshire Ebor Festival is off today at York racecourse.

With record prize money of over £4.4 million, the festival has attracted the best of thoroughbreds from Britain, Ireland, continental Europe and the USA for York’s flagship meeting

Racecourse patron, the Duke of York, will be at the Knavesmire today to present the trophy to the winner of the course’s first £1 million race; the Juddmonte International.

Britain’s highest rated race (based on three year average ratings) theJuddmonte will today become the richest race ever run at York, with the winner following such superstars as Frankel or Sea the Stars into the Winner’s Enclosure on this opening day.

Among the seven declared runners is the winner of the English and Irish 2,000 Guineas, Churchill.

His trainer Aidan O’Brien said: ““We’ve always thought that a mile and a quarter would be within his compass. Everything seems well with him since Goodwood, so we’re looking forward to it.”

He will be joined by stable-mate, Cliffs Of Moher, Ulysses and Barney Roy and Breeders’ Cup Turf champion, Highland Reel.

The Darley Yorkshire Oaks on Thursday, ranked last year as Europe’s highest rated contest for fillies and mares, and the Coolmore Nunthorpe, the best five furlong sprint in the world, will both see increases, to reach their richest ever renewals, at £350,000.

The racing action forms the centre-piece of a festival brimming with award winning hospitality and high summer fashion.

Some rain is forecast today, but the rest of the week should be dry. The festival runs from today until Saturday inclusive.