Gai Waterhouse is aiming to capture Australia’s prestigious Cox Plate this weekend, nearly three decades after she first began pursuing the elusive victory in the weight-for-age championship. Despite training some of the era’s top horses, the trophy has thus far escaped her grasp, though she remains optimistic about her chances with Sir Delius in Saturday’s $6 million race at Flemington Racecourse.

Waterhouse is no stranger to the Cox Plate, having grown up immersed in the event through her father, the legendary trainer TJ Smith, who won the race a record seven times. Smith’s success, including training the three-time winner Kingston Town, set a high bar that Waterhouse has been striving to match since launching her own training career. After a number of near misses and a notable disappointment in 2012 with More Joyous—when the horse’s problematic barrier selection sparked controversy with owner John Singleton—Waterhouse is poised for a significant comeback.

The 2026 Cox Plate will be held at Flemington rather than Moonee Valley, which is undergoing redevelopment, disrupting some traditional pre-race rituals such as the public training sessions known as “Breakfast with the Best.” The change has created an unusual atmosphere for Australia’s weight-for-age championship, with tensions reportedly running high among Melbourne’s racing clubs regarding access to facilities.

Sir Delius, co-trained by Waterhouse and Adrian Bott, is considered a top contender this year. Waterhouse emphasizes the horse’s familiarity with Flemington, noting he has spent his entire training career there and already boasts a prestigious Group 1 victory. Sir Delius’s recent form includes a notable win against Autumn Glow in the Queen Elizabeth Stakes at Royal Randwick, marking the only defeat for Autumn Glow to date. This performance helped ease concerns following Sir Delius’s absence from the previous year’s premier spring races due to a veterinary issue that forced the horse’s withdrawal.

Owned by New Zealand philanthropist Owen Glenn, Sir Delius has already rewarded his connections significantly. Glenn expressed great admiration for the horse’s achievements, drawing attention to the deep commitment and financial support invested in the campaign.

Waterhouse acknowledges the depth of competition this year, highlighting formidable rivals such as Ciaron Maher and Chris Waller, who both have multiple entries. Maher and Waller’s presence adds considerable strength to the field, with Waller aiming to equal TJ Smith’s Cox Plate record with his contenders Aeliana and Birdman. Meanwhile, the three-year-old Warworn has emerged as a leading favorite following a dominant victory in the Guineas.

Despite operating on a smaller scale than Maher and Waller’s expansive stables, Waterhouse and Bott remain determined to challenge the heavy favorites. “We have to be there and do the best we possibly can,” Waterhouse stated, underscoring her competitive spirit.

The race represents not only a prestigious sporting opportunity but also a personal milestone for Waterhouse, who seeks to add a Cox Plate win to her already distinguished career. With the unique conditions of this year’s event and a strong contender in Sir Delius, the outcome promises to be one of the most memorable chapters in the race’s history.