June 29, 1999. Copyright, 1999, Graphic News. All rights reserved ALL EYES ON ASCOT By Midge Todhunter LONDON, June 29, Graphic News: THE spotlights of the international horseracing fraternity will focus on Britain in July. The King George VI and Queen Elizabeth Diamond Stakes at Ascot on July 24 will be the first race in the newly-formed World Racing Series to be staged over the next eight months in a quest to find the world champion racehorse. After three years of summit meetings the various racing authorities across the globe have agreed terms and conditions which will allow horses of true international valour to accumulate points during the nine-leg championship, culminating with the Dubai World Cup on March 28, 2000. There is no finer place than the regal turfs of Ascot to launch the new world championships, with SaturdayÕs particular race widely regarded as the all-age mile-and-a-half championship of Europe. Ascot spokesman, Douglas Erskine-Crum said: ÒThe eyes of racing throughout the world will be on Ascot and it will be an historic day in the 300-year-old Royal Racecourse. The World Series is the most important step forward in the development of international racing our sport has ever seen and demonstrates a support for racing worldwide.Ó Next year Phase II will see the Series expanded to twelve top world races, encompassing four further events including FranceÕs Prix de lÕArc de Triomphe, currently engaged in seeking a sponsor and addressing other marketing issues. The prodigious growth in the number of racehorses travelling abroad to compete on the world stage has been quite remarkable during the last 20 years. The new World Series will link these top international races and raise the profile of racing on a global scale, say the organisers, and market the sport into the next century by reflecting other World Cup sports like soccer, rugby and cricket. /ENDS