Canterbury Park announced Wednesday that the $200,000 Mystic Lake Derby will highlight its 2016 thoroughbred stakes schedule, which will pay a track-record $1.89 million in purses.

The Shakopee track will host 25 stakes during a season that runs from May 20 through Sept. 17.

The Mystic Lake Derby, a one-mile turf race for 3-year-olds, is the richest race on the schedule. The Aug. 28 Derby has been elevated to listed status for 2016 by the American Graded Stakes Committee; that marks a significant step toward becoming a graded race, the most prestigious designation in the sport.

Other highlights of the stakes schedule include the Aug. 21 Festival of Champions for Minnesota-bred horses, which will offer $410,000 in purses, and the July 30 Minnesota Derby and Minnesota Oaks, whose purses of $85,000 each are the highest ever for those races.