EUROPE'S richest two-mile horse race will take place in the North-East today.

The 125th Northumberland Plate Festival is one of the biggest sporting and social events in the region's calendar.

Twenty-five thousand racegoers are expected to visit Newcastle Racecourse to see someone walk away with the £180,000 prize.

Newcastle Racecourse executive director David Williamson said: "It has become the Royal Ascot of the North-East and it is as much a fashion statement as a race meeting."

The prize fund for the three-day event is £450,000. The festival started on Thursday with 5,000 visitors and a further 12,000 attended yesterday.

Mr Williamson said: "It has been excellent so far. We hope we have had the bad weather now and the forecast is good, so we are looking forward to a great day."

The first recorded Northumberland Plate, won by Tomboy in 1833, was held at the Town Moor in Newcastle.

The race was held there until 1881, when the event was transferred to High Gosforth Park.

Tickets are still available for the grandstand, and the main race will start at 2.10pm