Reefton and Curious, you'll have a better take on the legal stance of this than me...is there any reason why clubs with freehold assets, couldn't place those assets in a community trust -type arrangement, and lease the property back to conduct racing ? until such time as they are forced not to?
....and , at least as far as the south is concerned, all these track closures - which are supposed to fund infrastructure improvements- won't be able to happen until the allweather at Riccarton is built.
That will hang upon the success [ or otherwise ] of the first venture at Cambridge for starters, and given that the RDF is unlikely to be usable in Christchurch city, funding has to be questionable for the proposed allweather here.
We have seen on another thread that the capital realised from the sale of the Racecourse Reserve land is nowhere near what may have been thought.