Fam has captured 8 Ades ships and, without consulting Fam, Tatiana has Dio take the fleet back to the Anatoray Exile government. Meanwhile, Fam has her next ship in sight: she goes to El Dorado, which holds famous underground races, to make a bet with a baroness that, if she wins, she gets to keep her ship. However, if the baroness’ pilot – a veteran of the Great Race – wins, she gets to keep Millia, who is disguised as a boy. The veteran leads most of the race, but a desperate ploy at the end allows Fam to barely win the race, and the ship.
This is essentially the same type episode as the 8-hour race episode from the first series, though in that case, it was a cover for a secret auction while in this case it was for Fam to get the ship.
Some other things established in this episode include the fact that, while we don’t know how long Dio and others have been back, it’s been less than 10 years, since it was after the last Grand Race. We also learn that Anatoray has established an Exile kingdom somewhere. However, their exile doesn’t appear to be one of the six moons, since they appear to have been around longer than that. It also makes the likelihood of seeing other characters from the first series much more likely.
Finally, it seems like more is up with Luscinia assassinating all of the nobles than meets the eye. I think he pretty much knows that the ships were stolen, and trumped up the treason charges as an excuse. The question is why. He references some wish of the previous empress, Farahnāz, but we have no idea what it is, beyond, perhaps world peace (which Luscinia hasn’t really been promoting).