Horseracing: Ethereal wins Melbourne Cup
Give The Slip narrowly failed to land an historic victory in the Tooheys New Melbourne Cup at Flemington.
Richard Hills's mount was caught in the shadow of the post by New Zealand challenger Ethereal and had to settle for second place.
Godolphin's four-year-old made the running in Australia's most famous race and looked to have a winning lead as he entered the final two furlongs of the two-mile contest.
David Elsworth's Persian Punch ran a blinder to finish third under top-weight in a field reduced to 22 by the withdrawal of Universal Prince and Kaapstad Way.
But Godolphin's other runner Marienbard and German challenger Caitano were both unplaced.
Godolphin also went close two years ago when Central Park finished second.
Ethereal is trained by Sheila Laxon, whose husband Laurie won the race with Empire Rose in 1988. Mrs Laxon was born in Pontypridd and used to ride work for Arundel trainer John Dunlop before moving down under in the 1970s.
The winning margin was three quarters of a length, with six lengths back to Persian Punch who was emulating his third place of 1998.
Karasi - once trained by Sir Michael Stoute - finished fourth but Marienbard was never able to land a blow and came home seventh, with Caitano 13th. Favourite Sky Heights was ninth.
