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ATC's Stage 1 submission for Rosehill sale accepted by NSW Government

Australian Turf Club (ATC) chairman Peter McGauran has reported to ATC Members this week that the NSW Government has accepted Stage 1 "Initial Submission and Preliminary Assessment" of the ATC proposal regarding the possible sale of Rosehill Racecourse for a housing estate.

In April McGauran told ATC Members that after the ATC lodged the "Initial Submission and Preliminary Assessment" the NSW Government must develop the Stage 2 of a "Detailed Proposal".

“The concept of a new premium racecourse, a new training centre of excellence, improvements to training and racing infrastructure, and ATC Members and spectator facilities will be central to the Due Diligence,” said McGauran in April.

Racing NSW paid for the cost of the ATC’s Due Diligence.

McGauran saId that Stage 2 involves the ATC working with members, stakeholders, and the NSW Government to develop THE Detailed Proposal for further consideration. 

"Please note that progression to Stage 2 does not guarantee that the ATC’s proposal will proceed to Stage 3 (negotiation of final binding offer) of the process. The outcome of Stage 2 may be that either the NSW Government or ATC determines that the Detailed Proposal should not be accepted," said McGauran in this week note to Members.

"Members will be in possession of all the facts before you are asked to vote on the proposal later this year."

The proposed sale of Rosehill for housing would require the ATC to find and fund a new racecourse in the Sydney metropolitan basin to replace the course and training facilities at Rosehill.

Racing NSW CEO Peter V’landys has stated that Racing NSW will have the final decision on any sale of Rosehill.

In May McGauran wrote to Members saying:

"Rosehill Gardens racecourse is owned by the ATC and in that sense, it is owned by the Members. Rosehill will not be sold unless the Members decide to do so. Under the Registered Clubs Act 1976 the racecourse is not permitted to be sold unless the Members vote in favour of the sale. If the Members vote against the sale that will be the end of the proposal. The Members’ vote will be respected.

"If, however, the Members vote in favour of the sale and the sale goes ahead, the proceeds of sale will be the ATC’s money, and no one else’s. It will be invested and spent in the interests of the ATC and its Members."

Media reports have said that minutes from a meeting V’landys and then-Racing NSW chairman Russell Balding held with NSW Cabinet Office officials in November last year recorded the two as being “very supportive” of the sale.

The meeting minutes reveal V’landys and Balding proposed legislative reforms to the ATC’s board and governance which would result in funds from the sale being distributed away from the club.

Rosehill Racecourse, picture ThoroughbredNEWS

 
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