Sale of Franklin Trotting Club

[Happy Sunrise]

What would this mean to trotting in the north? The end of it? There has to be a hub for young trainers doesn't there? 

Short term gain for long term oblivion?

FRANKLIN TROTTING CLUB

SUPPLIED

The sale of the Franklin Trotting Club is "a discussion point at this time," says Auckland Trotting Club president Bruce Carter.

The Auckland Trotting Club (ATC), meanwhile, admits it discussed the sale of its Franklin land at its annual general meeting last month. Its status is less clear than the Pukekohe Park development, with a final decision still to be made.

But the ATC is, like Counties Racing, in some financial difficulty.

The ATC took over the Franklin club in 2015 after Franklin itself hit financial trouble, pledging at the time to invest $4m into turning the facility into a top-class training centre - and giving an undertaking the assets would only be used for "harness-related benefits".

Talk of a possible sale is alarming to Franklin racing identities. 

Christine Montagna, whose father was a founding member of the Franklin club and has owned horses, says she was "absolutely livid" when the meeting discussed re-zoning the land, and a potential offshore buyer. "My ears pricked up, and I thought 'over my dead body you will'," she says. "Where would these horses and trainers go

 

Her fear is the venues will become encircled by urban development and then be threatened by complaints about dust and noise. She says the land should have a protective greenbelt zoning.

Ann Parker, who with husband Tony bred the famous champion trotting horse Auckland Reactor, was at the meeting and is dismayed. She says a replacement for Pukekohe could take many years and many millions of dollars to develop. "Young trainers cannot afford to buy land and put up a track and stables, the cost is phenomenal, so to keep these young ones employed and businesses going, we have to keep Pukekohe. There is no alternative."

ATC president Bruce Carter says the idea was discussed but no action had been taken and securing a plan change would be a lengthy and costly process. 

"It is something that could happen, but it may not happen … it is a discussion point at this time," he says. "We couldn't do it without a plan change, and that takes ages and has all sorts of implications."

Carter says the club has to support its trainers, and nothing will be done without providing an alternative training facility for the 200 horses which work-out there every day. "One day, when there are houses all around and dust flying then certainly, it may be an option - but certainly no application for a plan change has been made."

Lord, whose main campaign platform is around controversial planning decisions, such as plans for landfill in the Dome Valley and a new reservoir in the Waitakere Ranges, says: "I am worried about the future of two very popular sporting entities disappearing because of urban development, which isn't required in that area. Even though this is theoretically public knowledge, the general public don't know - like many things in this city, it is up to them to try and look for it and it is a transparency failure of council to keep people informed."

Lord says extra protections are required around Pukekohe to secure a permanent greenbelt for the town, especially with the ongoing debate over the loss of fertile growing land to development.

 

[the galah]

Its been mentioned on the other website that the ATC is looking at an $80 million  loss,up from $40 million,and is involved in costly legal battles. I wonder how accurate that is?  

The ATC  hierarchy have already indicated that it will be selling valuable assets so it can't come as a surprise that they will looking at all options like Franklin.

Looking from the outside,without full knowledge of the true extent of the financial disaster unfolding for the ATC,it appears they are doomed. It just seems to what extent.

How a club can increase  some stakes,and maintain others,,while under such financial pressure defies belief,and only further makes one wonder about the abilities of those making such decisions.

My prediction would be for the current leadership and the majority of the current directors to be all replaced. The new leadership will them start undertaking the sell of assets to  reduce debt,and with that you would think hey would have to look at the viability of maintain existing stakes.

Is it not just another Fonterra, but on a smaller scale? 

The article refers to younger trainers not being able o afford properties to train from,well that is happening everywhere,not just Auckland.  What do some of them end up doing  to survive or exist within the industry?You don't have to look too far in recent history to see  that.

 

Edited September 25, 2019 by the galah

[Happy Sunrise]

2 hours ago, the galah said:

How a club can increase  some stakes,and maintain others,,while under such financial pressure defies belief,and only further makes one wonder about the abilities of those making such decisions.

Good question.

 

2 hours ago, the galah said:

My prediction would be for the current leadership and the majority of the current directors to be all replaced. The new leadership will them start undertaking the sell of assets to  reduce debt,and with that you would think hey would have to look at the viability of maintain existing stakes.

Is the whole thing a house of cards?