The owners

Owning a racehorse costs between $20,000 and $50,000 a year for training, feed and veterinary fees. These days, horses are often owned by partnerships (groups of up to 10 people) or licensed syndicates (10–20 people).

On Melbourne Cup Day, owners of horses competing in the Cup enjoy access to areas of Flemington that are usually off limits to racegoers. They receive Members Passes for the day, allowing them access to the Owners Stand, located within the Members Stand, to watch their horses race. In the case of a syndicate, there are restrictions on numbers: a maximum of 11 Members Passes and 6 passes to the Mounting Yard are issued by the Victoria Racing Club. While only the managing owner can receive the cup, all members of a winning partnership or syndicate are invited to the exclusive Winners Bar to celebrate their victory.