Juddmonte Farms have entered into an agreement to purchase a place in the inaugural running of the $12 million Pegasus World Cup for their champion colt Arrogate from Coolmore Stud.

The transaction confirms the intention to run the Breeders' Cup Classic winner in the World Cup at Gulfstream Park in Florida on January 28.

No other details were disclosed by Juddmonte other than that "it is for the 2017 Pegasus World Cup Invitational only."

The race will see a rematch between Arrogate and California Chrome after they fought out the Breeders Cup Classic at Santa Anita in November.

Arrogate has raced just six times while the Pegasus World Cup will be the 27th and final race of California Chrome's career before he goes to stud.

The son of Lucky Pulpit has won 16 races and has amassed a US record of over $14.5 million.

The five-year-old is due to join the stallion roster at Taylor Made Farm for the 2017 breeding season after the World Cup.

The Pegasus World Cup will be contested over nine furlongs, a furlong shorter than the Breeders' Cup Classic, and is unique as would-be participants have purchase their place in thje field at a cost of $1 million.

Those that have purchased a place in the 12-hoprse field can race, lease, contract, share a starter or sell their place in the field.

Original entrants will have the first option to participate in future Pegasus World Cup races.