Greg and Jan Minahan are co-owners of Youngstar, one of the trainer Chris Waller’s three runners in the race.

Leading jockey Craig Williams will ride the four-year-old, Australian-bred mare from the Young-based Bowness Stud.

“We are thrilled to have a horse running,” Mr Minahan said. “She’s got a nice temperament.”

Mrs Minahan comes from the Inglis family, a name synonymous with horse racing in Australia as bloodstock auctioneers since 1867 with the William Inglis & Son business.

This will be the first time someone from the Inglis family has had a horse in the Melbourne Cup, however.

“Who’s to know if she'll win,” Mrs Minahan said. “But if she got into the top 10, we'd be exhilarated.”

Mrs Minahan and her brother, Arthur, who runs the auctioneer business, decided to buy Youngstar.

She came up as a foal at the Inglis Melbourne Premier Yearling three years ago.

Mrs Minahan chose ‘Young’ after the mare’s birthplace, as well as the street where she and Arthur grew up in Randwick, Sydney.

‘Star’ was chosen in memory of Arthur’s daughter, Olivia Inglis, who died in 2016 aged 17 in a horse riding accident in the Hunter Valley.

“She was a young star and always had stars on her riding jacket,” Mrs Minahan said of her niece.

Youngstar has a good chance of winning the 3200-metre race, having won the Queensland Oaks at Doomben (2200 metres) in May. At the Turnbull Stakes last month, Youngstar came home in second place, losing by less than a length to crowd-pleaser Winx.

Youngstar and Winx are both trained by Chris Waller and often share the same stable. “I’m hoping Winx rubs off on her,” Mr Minahan said jokingly.

Youngstar has also been bred to race distance, with both her sire and dam – High Chaparral and Starspangled – having been long-distance racers.

Youngstar will carry one of the lightest jockeys at 51.5 kilograms.

“It may be a small difference, but it makes all the difference,” Mrs Minahan said.

The Minahans are in Melbourne and, with Youngstar’s other owners, will wear light and dark blue and red, the racing colours used by Mrs Minahan’s late father.

John Inglis originally received the colours from his mentor and well-known Kia Ora stud owner, Percy Miller. When he passed away in 2006, they were handed down to Arthur Inglis.

“My father really admired Percy,” Mrs Minahan said. “And now it’s really nice to be in this race with my brother.”

As for the race day plan, Mr Minahan said they’d like Youngstar to jump about 10 feet out of the barrier.

“It’s such a long race, as long as she can keep her stride, that’s the most important thing,” he said. “If she’s in touch with the bulk of the horses at the straight, then anything can happen.”