The Kentucky Derby may forever be America’s most famous horse race, and the Triple Crown will always hold its mystique. But when it comes to deciding which horse is the best on the planet, the Breeders’ Cup Classic has become horse racing’s most meaningful event.

This year, that truth is undeniable.

The stunning scratch of Sovereignty, the 2025 Kentucky Derby and Belmont Stakes champion due to a recurring fever, has left a palpable void. But the lineup for Saturday’s race at Del Mar Thoroughbred Club in Del Mar, California, still offers one of the best fields in recent years with $7 million on the line.

With Sovereignty included, the 2025 Breeder’s Cup Classic had been billed as the “Race the Century.” It’s still the “Race of the Year,” featuring a field of nine horses, including eight that have won Grade 1 races. The 1 ¼ mile Classic is the centerpiece of the 42^nd Breeders’ Cup, which runs Friday through Saturday featuring 14 Grade 1 races worth more than $34 million in purses and awards.

Entered in the Classic are the top three finishers of 2024 — winner Sierra Leone, runner-up Fierceness and Japanese star Forever Young. Joining them is Journalism, the 2025 Preakness and Haskell winner, along with highly regarded contenders Mindframe and Baeza, and intriguing long-shot Nevada Beach.

“Despite the scratch of the pre-race favorite, this is still one of the best races of the last few years and in fact may be more compelling now that the top six choices are so close in terms of consistency and strength,” NBC’s betting analyst, Drew Dinsick, said of the Classic.

Sovereignty has been a champion on the track, but his larger impact this year may be diminishing the importance of winning the Triple Crown. He captured the 2025 Kentucky Derby, beating Journalism and third-place finisher, Baeza. But trainer Bill Mott made the controversial decision not to race Sovereignty in the Preakness Stakes two weeks later.

Mr. Mott explained that the quick turn-around did not allow for adequate rest and elected to skip the second leg of the Triple Crown. That race was won by Journalism after he fought through a bump down the stretch, while Sovereignty reclaimed his dominance by winning the Belmont at Saratoga, becoming the first Derby winner to intentionally skip the Preakness and win the final Triple Crown race.

Will sacrificing a chance at a Triple Crown set a precedent for trainers, who question whether entering a horse in three challenging races in a short period of time is worth it?

With a $7 million purse on the line along with monumental prestige, the Breeders’ Classic is worth it. It’s why it annually attracts the best field and is threatening to make winning the Triple Crown a lesser priority. Additionally, general sports fans aren’t always familiar with the 3-year-old thoroughbreds eligible for the Triple Crown races, while the Breeders’ Cup Classic allows older horses to compete.

Meanwhile, Sovereignty’s scratch is challenging the skills of handicappers looking for the best play in the Classic. Fierceness is the new favorite at 5-2 with Sierra Leone and Forever Young at 7-2. Then the fun begins.

“I’m going to stick with Nevada Beach as my best play and play him strongly with Fierceness,” Caton Bredar of Fan Duel said on the Horse Racing Nation’s Hard-core handicapper’s podcast.

Ed Derosa, of Fair Odds, likes Forever Young. “I just think Forever Young is a great opportunity.”

Ron Flatter of Horse Racing Nation likes Forever Young and Nevada Beach. “I just have to figure out how I’m going to play them,” he said.

The Kentucky Derby is always going to be special. It has tradition, pageantry and the Run for the Roses. But the 2025 Preakness lost much of its appeal when Mr. Mott decided not to compete for a Triple Crown and the Belmont ended with questions of what might have been. Sovereignty scratched from the Classic, but it still feels like the Super Bowl.

Journalism trainer Michael McCarthy is confident jockey Jose Ortiz gives his horse an advantage. “Once the gates open, it’s up to him,” Mr. McCarthy said of Mr. Ortiz. “He was very tactical. We’ll just try to go ahead and bounce out of there and put him in stalking position.”

Mike Repole has double the pleasure owning Fierceness and Mindframe. “To be in this position to have two live chances in this race is great,” Mr. Repole said. “They’ve been special. I think they’re running for each other, and they’re running for the stable, they’re running for my family, my friends, and in many ways, the fans, also.”

It may not be the Race of the Century without Sovereignty, but the Race of the Year should be just as thrilling. The pick here is Sierra Leone.