Two million dollars tempting for Slickly

We live in an era when a footballer can be worth £35m, and the prize money for races like the Japan Cup and Dubai World Cup is approaching $5m (£3.3m). Less than two decades ago, however, a mere $1m was still reckoned to be quite a lot of money, and when, in the spring of 1981, Arlington Park in Chicago announced plans to stage the world's first million-dollar race, racing's followers around the globe were astounded. The inaugural running of the Arlington Million a few months later breached a psychological barrier, and almost overnight, racing became a global industry.

We live in an era when a footballer can be worth £35m, and the prize money for races like the Japan Cup and Dubai World Cup is approaching $5m (£3.3m). Less than two decades ago, however, a mere $1m was still reckoned to be quite a lot of money, and when, in the spring of 1981, Arlington Park in Chicago announced plans to stage the world's first million-dollar race, racing's followers around the globe were astounded. The inaugural running of the Arlington Million a few months later breached a psychological barrier, and almost overnight, racing became a global industry.

Though its purse was soon overtaken by a dozen other races, the Million's place in racing history was assured, not simply because of the head-turning sum of money on offer, but also because of the philosophy behind it. Everything about the Million - its 10-furlong trip, the decision to stage it on turf rather than dirt, and its position in the calendar - was designed to tempt the best middle-distance horses from Europe to compete.

And tempted they duly were, pioneers like Luca Cumani's Tolomeo, who was the first European-trained winner in 1983, and Teleprompter, trained by Bill Watts, who won two years later. They showed the way, and modern owners such as the Godolphin organisation, for whom continent-hopping with thoroughbreds is almost a way of life, are in their debt.

It is no surprise to find Godolphin leading the European challenge for the 2000 Million this weekend (for which the purse, incidentally, is now a little over $2m). Slickly, who won the Grand Prix de Paris last year and the Group Three La Coupe on his only start this season, arrived in Chicago last Friday, and is reported to be settling in well. He cantered for 10 furlongs on Monday, and will have a final light piece of work today, while Frankie Dettori, who rode a Group One winner in France last weekend, will arrive to prepare for the Million tomorrow.

Godolphin's reputation precedes its royal blue silks everywhere, and Slickly will be among the market leaders for the Million on Saturday night. The local punters' favourite, though, is expected to be Manndar, a four-year-old who is now trained in the States by Beau Greely, but started his racing career in Britain. A winner at Bath and Newmarket, and fourth to Mutafaweq in the King Edward VII Stakes at Royal Ascot, Manndar's busy nine-race career in 1999 seemed to mark him down as good, but not that good. Another year and a change of location have been the making of him, however, and Manndar has won Grade One races at Belmont and Churchill Downs on his last two starts. He will be a worthy favourite this weekend.

The confrontation between Slickly and Manndar should do full justice to the Million's history and status, and justify the decision to include it in the Emirates World Series of top races. At the Chicago track, though, they may be happy simply to be racing at all, for the course of the Million through the last 19 years has not always been a smooth one. The latest renewal is the first for three years, following a two-season closure of Arlington to live racing as the result of financial problems.

Back in 1985, meanwhile, a fire less than a month before raceday left barely one brick standing on another at the Arlington Park. Shifts of workers laboured 24 hours a day to get something - anything - ready for the arrival of spectators, and when the moment came, 35,000 racegoers watched from an assortment of tents and temporary stands as Teleprompter won what was immediately dubbed the Miracle Million.

The Million has survived these setbacks, and as part of the World Series, may now be ready to flourish once again. There are many great names on the race's roll of honour, none more so than John Henry, one of the finest competitors in American racing history, who won not only the inaugural running, but the fourth too, at the age of nine, having lost by a neck to Tolomeo a year earlier.

Manila, Steinlen and Paradise Creek are among the other champions who have put their names on the trophy, but it has been eight years since Europe provided a winner. In Slickly, Godolphin and Dettori, though, our challenge could hardly be in better hands.