The newly formed New Jersey Council on...

The newly formed New Jersey Council on Racing has announced the creation of the Jersey Million Dollar Challenge, a series of three races that might attract Kentucky Derby winner Spend a Buck.

Any horse to win all three races will receive a $1-million bonus.

The series will be for 3-year-old colts and will be run at three tracks--Garden State Park, Monmouth Park and the Meadowlands.

The first race will be the $1-million Jersey Derby at Garden State Park on May 27. It will be followed by the $300,000 Haskell at Monmouth on July 27 and the $300,000 Pegasus Handicap at the Meadowlands on Sept. 26. The Jersey Derby is run at a distance of 1 miles, while the other two races are 1 1/8-mile affairs.