Racing NSW acquires Goulburn
Racing NSW will take ownership of Goulburn racecourse after members voted to transfer the club’s land freehold to the regulatory body.
Goulburn District Racing Club members voted in favour of handing over the racecourse to Racing NSW during a general meeting on Tuesday night. ANZ Bloodstock News established that the members’ vote was carried 58-10 in favour. The club has a membership base of 160 to 180 people.
Before putting the proposal to the club’s members, the Goulburn board was unanimous in its decision to accept a Racing NSW offer.
The sale of the racecourse was contingent on the club receiving $9.5 million in Racing NSW funding to build new stables and associated infrastructure that will provide for 80 additional horses to be trained at the well-situated track, which is just 90 minutes south of Sydney.
At present, the racetrack is home to approximately 100 horses and the new plans are expected to attract outside interest.
Alongside the sale of the freehold, members also voted to give club chief executive Robyn Fife and president Ken Ikin the authority to negotiate and finalise the club’s new funding arrangement with Racing NSW.
Last week, Racing NSW boss Peter V’Landys told the Goulburn Post regarding the sale of the land: “Ownership of the land is of no benefit to the club if there is no intention to ever sell it. In fact, retaining ownership…is a poor use of the club’s capital assets as construction of stabling through this funding provides the club an opportunity to generate significant recurring revenues.”