His trainer Harry Telford (Martin Vaughan), along with his wife Vi (Celia De Burgh) and young son Cappy, watch as Phar Lap is lowered onto the wharf in a sling, underweight with warts all over his face.

Mr. Davis is not impressed with the underweight colt, calling him a cross between a sheep dog and a kangaroo, and orders Telford to sell him immediately.

When Phar Lap started training well, Telford took the credit, telling Mr. Davis that he has "knocked that lazy streak out of him at last."

Mr. Davis attempts to capitalize on Phar Lap's success through shady betting schemes with known gambling identity Eric Connolly (John Stanton), something that Telford wants no part of.

The Victoria Racing Club, led by its Chairman Lachlan McKinnon (Vincent Ball), imposes an unprecedented weight of 10 stone 10 pounds (68 kg) for Phar Lap to carry in his next Melbourne Cup in 1931.

Phar Lap surges to the lead but fades and finishes eighth, and the racing authorities face jeering crowds.

Telford initially disagrees citing Australia's Quarantine Laws, but reluctantly agrees knowing that the Agua Caliente Handicap was the richest race in the world.

Telford, saying that Phar Lap has brought him "nothing but trouble" refuses to go himself, preferring to concentrate on his new stud and stables at Braeside, south of Melbourne.

Also traveling with Phar Lap is Tommy's friend Cashy Martin (Richard Morgan) as his new strapper, veterinarian Bill Nielsen (Robert Grubb), and jockey Billy Elliot (Paul Riley).

When questioned by Crofton about sacking Tommy Woodcock, Mr. Davis explains that "If I did, the goddamn horse would sit in his stall for the next month and cry."

Wincer later admitted he was disappointed the film did not attract the 14- to 22-year-old audience, and thought it might have been due to the movie's relative lack of romance.

[3] Disney Studios wanted to release the film in the US but John Sexton and Wincer decided to go with 20th Century-Fox because they had done The Man from Snowy River (1982).

"[6] The "2 Disc Collector's Edition" released in Australia as Phar Lap: Hero to a Nation by Roadshow Entertainment includes among the "extras" on the second disc a long audio recording of a conversation between Aaron Treve "Tommy" Woodcock and director Simon Wincer on 4 July 1984, and a short newsreel documentary The Mighty Conqueror, which would have been first screened c. December 1931.