Damien Oliver, Chris Waller unite to deny Queensland favourite Jason McLachlan

IT'S doubtful there will ever be a more drama-packed Magic Millions Cup than the one Velrosso won yesterday.

Velrosso (centre), with Damien Oliver aboard, just manages to get home ahead of the fast-finishing Phelan Ready (right). Pict...

IT'S doubtful there will ever be a more drama-packed Magic Millions Cup than the one Velrosso won yesterday.

The lead-up to the race was marred with stewards inquiring into a possible race-day treatment of Lucky Hussler.

Then Phelan Ready, a lazy five years on from his 2YO Classic triumph, failed by the narrowest of margins after seeming no hope at the 600m point.

But in the end, it was Sydney's premier trainer Chris Waller, who won the race last year with Triple Elegance, and Damien Oliver, who salvaged something from a bizarre week that ended with the major spoils.

Oliver had both his 2YO Classic and 3YO Guineas mounts scratched in the days leading to yesterday.

"It was a funny week and unfortunate for the connections of those two horses, but it's nice to salvage something from the day and win a nice race like this," Oliver said.

Velrosso is raced by Magic Millions owner Gerry Harvey, who had endured years of torment from his former partner John Singleton for not having success on this day and the retail giant revelled in the success.

It's a three-way go in the Magic Millions Cup. Picture: Adam Head

"Bloody oath," he said before congratulating Waller and referring to him as "my mate the horse trainer from New Zealand. He's done all right in this country".

Jason McLachlan was left to lament another near miss for Phelan Ready, who produced an amazing effort to get so close after being tailed off halfway through the race. "He is the most frustrating horse I've ever trained," McLachlan said.

Stewards will wait on lab results before resuming an inquiry into tubing equipment found in Kent Fleming's stable just after noon.

Lucky Hussler faded to finish 11th after stewards permitted him to start owing to the fact Fleming was on his own and the gear was in its normal place.

At issue is "a mustard coloured" residue found in a tube. Fleming said he drenched the horse on Wednesday.

"There is absolutely no way I would treat the horse illegally because I've only been back five minutes (from suspension) and I wouldn't risk my licence," Fleming said.