Phelan Ready confirmed his place as Australia's leading juvenile and Magic Millions as Australia's premier supplier of Golden Slipper winners when the son of More Than Ready won the 2009 edition in breathtaking fashion today.

A $150,000 purchase by trainer Bruce McLachlan at last year's Conrad Jupiters Magic Millions Yearling Sale, Phelan Ready flew home coming from last on the corner and race away for the easiest of victories.

Despite hitting the front earlier than wanted by his rider, Phelan Ready was able to cruise home and win by two and a quarter lengths.

Headway was second, a breath in front of Manhattan Rain. Real Saga was the best of the unplaced brigade in fourth position.

Bruce McLachlan, who trains the gelding in partnership with his son Jason, was thrilled with the efforts of Phelan Ready - who in the space of less than three months has won Australia's two richest and most important juvenile contests.

The $150,000 graduate has now won a cool $3,248,500 from just five runs with the promise of more to come, with the gelding looking a likely three-year-old star of Australia.

"This is a wonderful thing for Jason at this time of his career," McLachlan senior said. "He's working really well with me and it's just a terrific thing."

"This horse has really bloomed in Sydney," he added.

"I bought this bloke as a yearling and it's funny because I paid up for just one of my 20 yearlings for the Magic Millions and it was his him."

"I just had this feeling about him."

"He got into the Magic Millions (2YO Classic) by the skin of his teeth and then won it and got into the Slipper by the skin of his teeth and won it!"

McLachlan said the gelding, who is from the stakes winning Blevic mare Nancy Eleanor, would continue to improve and he matures into a three-year-old.

"He's going to be a nice three-year-old," McLachlan said. "But this is a great start!"

Brad Rawiller, who rode Phelan Ready to his runaway win today, paid tribute to his former regular rider Jason Holder, who was badly injured in a fall in the week after the pair teamed up to win the Magic Millions 2YO Classic.

"I send my best regards to Jason," Rawiller said. "He's a great bloke and he rode the horse tremendous in the Magic Millions and it's unfortunate how I've picked up the ride this way."

Rawiller said he was shocked the gelding was not among the favourites for today's big race after a near perfect lead up. His preparation was timed to perfection - to peak for the Grand Final so to speak.

"It's unbelievable really. His Magic Millions wins was awesome."

"Where he was on the corner was where Real Saga was in the Blue Diamond and yet he (Phelan Ready) got up and won."

"He went great in the trial behind More Joyous and his run the other day he ran second in a race that he needed for this race in mind."

Magic Millions Managing Director David Chester said today's result further emphasised the status of his sales company being the best at unearthing the winners of the world's richest juvenile race.

"Seven of the last ten Slipper winners are graduates of the Gold Coast sales ring," Chester pointed out. "And one of the three we didn't win was won by a home bred who never was offered at auction."

"The record speaks for itself."