THE FIRST £1m prize pot in the history of York racecourse will be on offer at this summer's Ebor Festival.

The Group 1 Juddmonte International - which is already Britain's highest rated race in terms of international rankings - has been won by some of the biggest names in the sport including Frankel, Sea The Stars, and Australia.

Prize money for the next staging of the event, on Wednesday August 23, will increase by £100,000, taking it into seven figures for the first time.

Lord Grimthorpe, chairman of York racecourse and racing manager for Khalid Abdullah's Juddmonte Farms, said: “Attracting the best horses to run in competitive races on the Knavesmire is what we are all about - so I am pleased that the unstinting support from long standing sponsors has allowed us to increase prize money for our feature races again this year.

"The Juddmonte International will reach a notable landmark," he added, "demonstrating the generous support of Prince Khalid for a race that I know he cherishes."

The 2016 duel between Postponed (Europe's highest rated older horse) and Highland Reel, the King George VI and Queen Elizabeth II Stakes and Breeders' Cup Turf hero, emphasised the global standing of the Juddmonte International.

It is now the joint fourth richest race in Britain behind the Investec Derby at Epsom, (£1.5m), the Qipco Champion Stakes at Ascot (£1.3m), and Qipco King George VI Stakes at Ascot (£1.15m)

However, it stills falls a long way short of the richest races on the planet which are headed this year by the Pegasus World Cup in America (£9.56m), the Dubai World Cup (£7.98m), and the newly-announced Everest in Australia (£6.12m).

York races, meanwhile, have also announced increased prize money for this year's Darley Yorkshire Oaks and the Coolmore Nunthorpe - with both offering £350,000 for the first time.

Completing the feature race set in August will be Saturday’s Betfred Ebor, with prize money for Europe’s richest flat handicap increased again to £285,000.