GAI Waterhouse has become the first Australian woman to train a Melbourne Cup winner, with Fiorente seizing the Melbourne Cup in commanding fashion this afternoon.
Ageless marvel Red Cadeaux has run second for the second time after finishing runner-up by a few pixels to Dunaden in 2011, while Mount Athos ran third, in what will be another frustrating placing for the English Cumani stable.
"It's a dream come true," Waterhouse said. "I'm so thrilled for all the people who come up to me and say 'good luck, Gai'."
The win of Fiorente is also a triumph for jockey Damien Oliver, who claims his third Melbourne Cup after wins aboard Doriemus in 1995 and Media Puzzle in 2002.
Oliver was outed from the sport last year for betting on a rival horse in a race where he was riding the second favourite.
He returned earlier this Spring, and some said he didn't deserve to be in the saddle so soon.
But Oliver has added another incredible chapter to his career, after he became the toast of the nation in 2002 when he won the Cup the same week his brother Jason, also a jockey, was killed in a trackwork fall.
For Waterhouse, this caps off an amazing year in which her name was dragged through the mud in the More Joyous Affair and she fell out with her long-time friend and client John Singleton, who withdrew all his horses from the Waterhouse stable.
But after finishing second in the race twice and winning virtually every major race on the Australian turf, Waterhouse has finally claimed Australia's greatest race.
Bred in Europe, Fiorente was acquired by Waterhouse before last year's spring.
The cashed-up trainer outbid rival Aussie trainer Mike Moroney in an 11th hour bid, and had immediate success, running second to Green Moon in last year's Melbourne Cup.
Waterhouse and the horse went one better today.
TRAGIC INCIDENT
Trackside officials confirmed French mare Verema was euthanised after it fractured a cannon (leg) bone at the 2000m mark.
Dr Brian Stewart, Racing Victoria's Head of Veterinary and Equine Welfare, confirmed the incident in a statement.
"This was an unfortunate accident that happens infrequently in racing and our sympathies are extended at this time to the Aga Khan, Alain de Royer Dupre and the connections of Verema."
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