RITA to announce closure of New Zealand tracks
A major announcement is expected today that will likely see up to ten thoroughbred tracks throughout New Zealand closed, including the Auckland metropolitan track, Avondale.
On top of the New Zealand government’s emergency support package announced earlier this week, such a shake-up could well have been expected as the new season calendar is expected to show severe reductions and cuts.
The closure of Avondale will be the most striking element as it occupies prime land in suburban Auckland. Some estimates value the land at between NZ$150 million and NZ$200 million.
It will become clearer today as to how many of the recommendations listed in the Messara Report will feature in the announcement; however, in submissions made in March to a select committee formulating policy for the upcoming Racing Reform Act, Messara himself believes that consolidation and rationalisation are vital to improving the industry’s future.
If and when legislation is passed, it will mean that those tracks will be denied the opportunity to hold meetings and the respective tracks will be sold. Presumably, the proceeds will channelled back to the industry.
Proceeds from any potential sale of Avondale, if applied to the industry at large, could alleviate the industry’s current financial woes. However, officials of the Avondale Jockey Club have, in the past, been willing to fight for their survival and it will be no surprise if they seek legal help.
Racing is due to recommence on July 1, having been closed down when the government put the country into lockdown late March. This may also have been the catalyst for today’s announcement.