Calandagan snatched glory from Masquerade Ball in an unforgettable Japan Cup

The European Horse of the Year stamped his authority in Tokyo, shattering the home team’s dominance in a dramatic finish that had it all

Racing wide, Calandagan surged past Masquerade Ball to secure his fourth consecutive G1 victory / JRA

In a finish for the ages—one destined to live forever in racing memory—Calandagan, the top-rated horse in the world, reeled in local idol Masquerade Ball (Duramente) in the final strides to become the first foreign horse in 20 years to win the GI Japan Cup (2400m, turf). The feat by the Aga Khan homebred gelding ended Japan’s long-held dominance and cemented his place among the sport’s all-time greats.

The son of Gleneagles, trained by Francis-Henri Graffard and ridden by an inspired Mickael Barzalona, sealed his fourth consecutive Group 1 victory, and did so with authority and in record time—2:20.30, eclipsing the mark previously held by Almond Eye (Lord Kanaloa). It was a performance worthy of the thunderous ovation from the more than 77,000 fans who packed Tokyo Racecourse.

Yet the race itself unfolded in unorthodox fashion. Of the 17 runners, only two ever truly mattered. While a longshot opened a sizable early lead, the rest of the field traveled in a tight cluster, conserving energy for Tokyo’s famed, seemingly endless stretch. From early on, Masquerade Ball—Japan’s brilliant 3-year-old star and fresh winner of the GI Tenno Sho (Autumn)—secured an ideal stalking position, with Calandagan glued to his flank, never letting him out of sight.

Turning for home, Christophe Lemaire swung Masquerade Ball out and launched a powerful bid, attempting to break the French raider’s resolve. Barzalona, patient as ever, waited a few more beats before unleashing Calandagan, who swept down the outside with a flawless transition. The pair burst clear, shoulder-to-shoulder through the final 100 meters—flanked, incredibly, by a riderless horse after Yuga Kawada lost his seat at the start—while the crowd roared with each stride. Only in the last meters did Calandagan edge ahead, sealing a monumental victory.

“Once we found our position, he relaxed beautifully,” Barzalona said. “Both horses were brave—Masquerade Ball even got a head in front of me at one point. Why did I win? Because I was riding the best horse in the race,” he joked.

For Graffard, everything went exactly according to script: “He followed the right horse. He’s a true champion.” The victory carried an added emotional layer for Princess Zahra Aga Khan, who took over the operation after her father’s passing in February. “You never expect to win a race like this, though you can dream of it. Coming to Japan at the end of the season was asking a lot, but he proved he’s up to any challenge.”

Being a gelding, Calandagan will remain in training. Though no immediate plans were confirmed, the Princess hinted that the operation is prepared to travel wherever needed: “If we have a horse for Keeneland, we’ll be in Keeneland,” she said, referencing a potential 2026 GI Breeders’ Cup Turf target.

Calandagan arrived in peak form, with recent victories in the GI Grand Prix de Saint-Cloud, GI King George VI & Queen Elizabeth Stakes, and GI Champion Stakes, along with his crowning as European Horse of the Year at the Cartier Awards.

Masquerade Ball lost little in defeat. The colt, third in the GI Satsuki Sho, runner-up in the GI Tokyo Yushun, and brilliant winner of the Tenno Sho against older horses, fell with full honors and confirmed that his ceiling remains sky-high. Third was Danon Decile (Epiphaneia), the 2024 Japanese Derby winner who had previously beaten Calandagan in the Dubai Sheema Classic (GI) at Meydan. Croix du Nord (Kitasan Black), this year’s Tokyo Yushun hero, checked in fourth.

Not since Alkaased (Kingmambo) and the incomparable Frankie Dettori in 2005 had a foreign horse conquered Japan’s greatest race. Calandagan did it—on foreign soil, in hostile territory, in a race built to crown giants.

This Sunday in Tokyo, the giant was him.