[2] As a yearling Malacate was offered for sale at Keeneland and bought for $40,000 by representatives of María Félix, a Mexican actress and wife of French financier Alex Berger.
He was then moved up in class and distance for the Prix des Chênes over 1600 metres at Longchamp Racecourse and finished sixth of the eleven runners behind French Swanee.
[4] On his debut as a three-year-old, Malacate contested the Prix des Epinettes over 2200 metres at Longchamp and won by one and a half lengths from Loosen Up and Rec The Toolhouse, to whom he was conceding four and five pounds respectively.
Ridden as usual by Philippe Paquet, he was restrained at the back of the field before producing a strong run in the straight to win by one and a half lengths from the filly Start The Game, with Happy Tim in third.
Repeating his previous tactics, Paquet held the colt up at the back of the field but when he attempted to move forward on the final turn he was forced to the wide outside and entered the straight with a very large amount of ground to make up.
Later in July the colt contested Britain's most prestigious weight-for-age race, the King George VI and Queen Elizabeth Stakes at Ascot Racecourse, and started 13/2 fourth choice in the betting behind Youth, Pawneese and Bruni.
With Paquet serving a suspension, Lester Piggott took over the ride on Malacate, who started the 4/5 favourite against ten opponents, the most prominent in the betting being Northern Treasure, Hawkberry and Niebo, all of whom he had beaten at the Curragh.
Ridden with great confidence by Piggott, he turned into the straight in sixth place, took the lead approaching the final furlong and on easily by one and a half lengths from Mart Lane, with Niebo taking third ahead of Northern Treasure.
The field split into two groups with Malacate ,ridden again by Lester Piggott,racing on the stands-side (the left-hand side from the jockeys' viewpoint) where the ground was slower.
In August he was sent to England for the sixth running of the Benson and Hedges Gold Cup over ten and a half furlongs at York Racecourse and finished fifth behind the 33/1 outsider Relkino.
[6] There was no International Classification of European two-year-olds in 1975: the official handicappers of Britain, Ireland and France compiled separate rankings for horses which competed in those countries.