Charles Cella hopes the lure of $5 million will attract racing's two biggest stars (Coady Photography)

Calling it "one of the most important moments at Oaklawn and in Arkansas sports," Oaklawn President Charles J. Cella announced Thursday that Oaklawn will increase the purse of the April 3 Apple Blossom H. (G1) to $5 million, provided Horse of the Year RACHEL ALEXANDRA (Medaglia d'Oro) and dual champion ZENYATTA (Street Cry [Ire]) both start.

At a morning press conference, Cella reported that he has spoken with the owners of both Rachel Alexandra (Jess Jackson) and Zenyatta (Mr. and Mrs. Jerry Moss). Both showed enthusiasm for bringing their champions to Oaklawn for the first Saturday of the famed Racing Festival of the South.

Rachel Alexandra (three-year-old filly) and Zenyatta (older mare) were unanimous Eclipse Award winners in their respective divisions in 2009 and were the only finalists for horse racing's highest honor -- the Eclipse Award for Horse of the Year.

Oaklawn has long been perceived as the ideal neutral ground for the dream match-up, because both have used the Arkansas oval as a launching pad to future success.

Zenyatta's BC Classic victory was supposed to be her swan song, but she'll get the chance to run again (Benoit Photos)

As a lightly-raced but promising four-year-old in 2008, Zenyatta captured her first Grade 1 victory in that year's Apple Blossom, beating then reigning champion Ginger Brew among others in her only start outside of California and only start on a conventional dirt surface. She has since gone on to post a perfect 14-for-14 record, highlighted by her victory in the 2008 Breeders' Cup Ladies' Classic (G1) and her win against males in the 2009 Breeders' Cup Classic (G1), in what was believed at the time to be the final race of her career. Rumblings about Zenyatta's "un-retirement" began to be felt in December and Moss made it official on January 16.

"We're all very excited about the opportunity," said Dottie Ingordo-Shirreffs, racing manager for the Mosses and wife of trainer John Shirreffs. "It would be fabulous for the fans and the racing industry. It's a race we've won before, so she likes the track. We'll do our best to make the race, but obviously, it all depends on Zenyatta and how she's doing."

Tentative plans call for Zenyatta to make her comeback race at Santa Anita in the March 13 Santa Margarita H. (G1).

Rachel's Fantasy score provided a glimpse of what was to come (Kurtis Coady/Coady Photography)

"My family and I would love to see (Rachel Alexandra) run at Oaklawn Park," Jackson said in a statement. "If she is in top form and it fits in our schedule, we will be there. Rachel, as you know, likes the track, having won twice there last year.

"As you have heard me say many times before, a number of factors must be considered when deciding where to race a horse -- the number one factor being the condition of the horse. Rachel will tell us when she is ready to start her 2010 campaign and we humans must agree she is in top form."

Rachel Alexandra enjoyed a "happy gallop" once around the Fair Grounds main track Thursday morning at about 6:30 a.m. (EST), according to Fair Grounds clocker Billy Pettingill.

"She looked great doing it," Pettingill said. "She came out right after (trainer Steve) Asmussen's first set so they could see where the going was best on the off track. Dominic Terry was aboard, she was accompanied by (assistant trainer) Scott Blasi going to the track and she was kept well off the rail during the gallop."

Should both Rachel Alexandra and Zenyatta start, this year's Apple Blossom will be an invitational event. Other leaders in the filly and mare division will be invited to participate. The $5 million purse will be the largest purse for a filly and mare race in the history of North American Thoroughbred racing.

The distance of the race, historically contested at 1 1/16 miles, will be extended to 1 1/8 miles.