Nine year-old Bahamian Pirate at 16/1 sprung a surprise to land the Nunthorpe Stakes at York, with Aidan O'Brien's One Cool Cat running disappointingly in spite of his third place finish.
Airwave and Nicholls' other runner Fire Up The Band were in the front rank early on as both Bahamian Pirate and One Cool Cat were dropped in towards the back of the pack.
Jamie Spencer was scrubbing along early as the favourite struggled to go with the pace, but Sanders was sitting quietly on the winner, biding his time before launching a challenge around a furlong out.
On the near side Ryan Moore was just getting 13-2 shot The Tatling into top gear, but Bahamian Pirate stuck to his task well and battled to a neck win.
Spencer was forced to weave his way through the field on One Cool Cat and he was never going better than at the finish, crossing the line a length behind the second.
Bahamian Pirate was giving Nicholls his second win in the race after Ya Malak dead-heated with Coastal Bluff in 1997.
Sanders told Channel 4 Racing: "He gave me a great ride. A furlong out I thought, as long as he goes through with it, he'll win. Brilliant, I can't say how happy I am."
Spencer was delighted with the run of One Cool Cat but believes he will be better for the return to six furlongs in the Sprint Cup at Haydock next month.
"I think he would have annihilated them on faster ground. This is the first time he has run over five furlongs since April last year and that's a big difference," he said.
"He was the fastest horse at the end and I'm really looking forward to Haydock."
Filed by James McMahon
