Melbourne based businessman James Kennedy has bought a ticket to the TAB Everest by securing the purchase of the GPI Racing slot for the coming year valued at $800,000.

TAB Everest Slot Sold

The Daily Telegraph understands that Kennedy came to an agreement with Greg Ingham’s GPI Racing to acquire the slot for one year with an option to retain it for a further two if required.

Everest Slots are valued currently at $600,000 however owners are able to lease or sell there slot for a period of time to the highest bidder which in this case was believed to be around $800,000.

James Kennedy currently sits as Chairman of the Kennedy Luxury Group and has been rapidly growing the presence of his brand in racing with sponsorships of the VRC Oaks at Flemington for the past 4 years.

The sale of the GPI Racing spot was announced in late February with the process managed by Inglis. When the slot went up for sale it attracted international attention with potential suitors drawn by the $15m in prize money available.

"Nobody can genuinely argue against the fact that The Everest is a major force in world racing, it has been from day one," Kennedy said.

"I'm passionate about the racing industry and all it does for the care and wellbeing of these amazing animals and for the critical role it plays in our economy.

"I have a strong presence in Victoria through my sponsorship of the Kennedy Oaks and the Victoria Racing Club and now I’ll have a more formal presence in NSW by taking up this Everest slot."

At this time Kennedy admitted he doesn’t know who will represent his slot:

"I’ll just sit back and see what presents itself over the next few weeks and months," he said. "Ideally in time I would love to have one of my own horses represent the slot, that’s the dream."

Nature Strip currently sits as $4.60 for the Everest with the returning Classique Legend on the second line of betting at $7. 

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