ATC confirms Members vote on April 3rd on the sale of Rosehill
13 March 2025
by Rob Burnet
The Australian Turf Club (ATC) issued a statement on Thursday confirming that ATC Members will be asked to vote on Thursday, April 3rd, on the proposal to sell Rosehill Racecourse.
The statement said that under the Unsolicited Proposal process, the NSW Government will consider a proposal which provides ATC with minimum sale proceeds for Rosehill Gardens of $5 billion over 15 years.
The proposal requires a majority of Members voting to vote in favour at the Extraordinary General Meeting at Randwick on April 3rd.
ATC Chairman Peter McGauran said: “This resolution is without any doubt the most important and consequential in the history of our Club and it is vital that every ATC Member votes.
“Many Members love Rosehill Gardens and are reluctant to see it go but the truth is it’s an outdated venue with declining crowds and this proposal can rejuvenate and secure the racing industry for many generations to come,’’ he said.
The statement said that the proposal will seek proceeds from the NSW Government to be paid in full to the ATC over a 15-year timeframe, with instalments timed to fund several major investments to racecourses and ATC Members facilities.
It also said that the ATC would replace Rosehill Gardens with a 'new Group 1 quality racecourse' without saying where that would be in the Sydney Basin and the cost of developing a new track facility including training. It said that Warwick Farm would be redeveloped to a 'Group 1 racecourse' and the the balance of sale proceeds will be invested by the ATC to create a future fund to secure the Club’s financial independence.
Group 1 racing used to held at Warwick Farm, including the Chipping Nortion Stakes, until the races were moved to Randwick for higher wagering turnover.
The proposal to the NSW Government is currently in Stage 2, with the ATC saying it expects to submit a formal proposal to the NSW Government later this year, depending on the outcome of the vote on April 3rd.
When the sale was announced in December, 2023, the figure of $5 billion was mentioned as the sale result for the ATC. This figure has fluctuated and has not yet been confirmed by the NSW Government as the correct and final figure. Whatever the amount, if the figure is paid over 15 years as the ATC statement suggests, the real return to the ATC will be diluted through inflation and rising construction costs over that period.
An example of the cost of a new state-of-the-art racecourse with training facilities and grandstands is the Hong Kong Jockey Club's Conghua Racecourse in China with an all up cost of around US$3 billion. Those costs are based on a Chinese land and construction cost base and not a Sydney land and construction cost base.
With the cost of finding a suitable new site for a racecourse and training facilities in the Sydney basin, let alone building a course and training facilities, it would remain to be seen how much funding was available to create an ongoing investment fund to future proof the industry in Sydney. If indeed there was any funding left over after building a new racecourse and training facilities.
The Winx statue at Rosehill, picture ThoroughbredNEWS
By Adam Hamilton
The fascinating juggle for slots and runners in the $1m Race by betcha at Cambridge on Friday, April 4 has taken another twist.
Moments after the connections of emerging Kiwi star Tact McLeod last night announced a change of plans and they would bypass the race, negotiations for a replacement sparked into action.
In the late hours of last night, a deal was done where the slot owned by Victoria’s Matthews Family (owners of Catch A Wave) would be sold to Michael Brennan Racing.
The Matthews Family originally bought the slot to run their eight-time Group winner Catch A Wave in, but changed heart last week and instead opted to set him for the $1.25mil Nullarbor in Perth on April 25.
The deal was done for Tact McLeod to take his place.
But last night’s twists opened the door for emerging South Island pacer Pinseeker to land a slot.
Michael Brennan Racing, driven by Josh Davine, quickly confirmed the Jonny Cox-trained Pinseeker would run in the slot after his sparkling Addington free-for-all win last night.
Pinseeker won by three-and-a-half lengths in a 1min55.5sec mile rate for 1980m, capped by closing splits of 54.8 and 27.6sec.
The five-year-old son of Downbytheseaside has raced just 20 times for six wins and nine placings.
“He was super impressive last night and it’s great for Jonny (Cox) and Kimberley (Butt) to get a crack at a race like this,” Davine said.
Andy Gath, speaking on behalf of the Matthews clan, said: “It’s all turned out really well. Josh (Davine) was really proactive.”
This shapes as by far the strongest Race by betcha yet with Aussie stars Leap To Fame and Don Hugo leading the way.
Top Kiwi hopes include: Merlin, Don’t Stop Dreaming, Republican Party and awesome young mare Duchess Megxit.
The Race by betcha, along with the $600,000 TAB Trot, will be run at Cambridge on April 4.
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