Keen Ice, the 2015 Travers Stakes winner, will run in the inaugural $12 million Pegasus World Cup under a partnership between gate owners Jerry and Ronnie Frankel and Jerry Crawford’s Donegal Racing.

The Frankels purchased a starting position for $1 million under the unique conditions of the new race and then began a search for the right hore to represent them.

Trained by Todd Pletcher, Keen Ice ran third behind likely Pegasus favorites Arrogate and California Chrome in the GI Breeders’ Cup Classic at Santa Anita on November 5.

He was most recently runner-up to stablemate and possible Pegasus contender Stanford in the G3 Harlan’s Holiday Stakes at Gulfstream Park on December 17.

“Everyone knows that California Chrome and Arrogate are in a league by themselves but we believed from day one that Keen Ice was the best other horse available and he has proven it in his last two races,” said Jerry Frankel.

“Everyone thought that American Pharoah was in a league by himself the day Keen Ice beat him in the Travers, proving anything can happen.”

Crawford said Donegal Racing was excited to partner up with the Frankels.

“Keen Ice could not be training better. We love the opportunity to run in the biggest race by purse in American racing history,” Crawford said.

“Jerry and Ronnie really believe in this race and what it can do for horse racing and we are glad to provide them a quality horse to take a shot.”

Pletcher said he was pleased by the announcement.

“The Frankels and Donegal have put together a win-win arrangement and now one of the best horses in training is locked in,” he said.

The financial terms of the agreement are being kept confidential.

Breeders' Cup Classic winner Arrogate is to start in the G2 San Pasqual Stakes at Santa Anita Park on January 1 as his lead-up to the Pegasus World Cup at Gulfstream on January 28.

The San Pasqual will be Arrogate's first start since his BC Classic victory over California Chrome and Keen Ice.