Waterhouse withdraws 'The Offer' from Melbourne Cup

MELBOURNE (Reuters) - Popular Australian trainer Gai Waterhouse, who prepared last year's winner Fiorente, has withdrawn The Offer from next week's Melbourne Cup to leave her without a runner in the country's biggest race.

The Offer was installed as an early favourite for the two-mile A$6.2 million ($5.46 million) handicap, which takes place at Flemington Racecourse next Tuesday, after a dominant win in the Group 1 Sydney Cup in April.

The stayer ran 11th at the Caulfield Cup behind current Melbourne Cup favourite Admire Rakti earlier this month, however, and Racing Victoria stewards confirmed it had been withdrawn on Tuesday.

The withdrawal of The Offer means Unchained Heart moves up into the final position in the 24-strong field, although it could still be bumped depending on the result of Saturday's Lexus Stakes at Flemington.

(Reporting by Nick Mulvenney, editing by Ian Ransom)