High‑profile trainer, Gai Waterhouse will not be defending the Melbourne Cup after advising Racing Victoria stewards one‑time favourite, The Offer will not take part in the race.

Waterhouse won her first Melbourne Cup when Damien Oliver rode imported horse, Fiorente to victory last year.

Solid autumn form including a dominant win in the Sydney Cup had seen The Offer head early betting markets for this year's Melbourne Cup. But on firm tracks during the Melbourne spring the horse has not produced the same form, and Waterhouse has decided not to push on to the Cup with The Offer.

Meanwhile, last year’s winning jockey, Damien Oliver will be riding Mutual Regard this year.

The Melbourne Cup race will be held at 5pm next Tuesday.

Source: ABC