Written by Keely Mckitterick
Cover image courtesy of The Image Is Everything
As the Australian Turf Club (ATC) contemplates the momentous proposal to sell and redevelop Rosehill Racecourse, a detailed consultation process is underway. This initiative, which could herald a new era for Sydney with the creation of a high-density urban precinct and enhanced transport links, was brought into sharp focus during an ABC radio interview with ATC Director and respected thoroughbred industry media personality Caroline Searcy, on Friday, following a heated week of ATC industry meetings this week.
Searcy’s insights shed light on the complexities and emotions surrounding the potential sale, emphasising the importance of community engagement to all stakeholders within the racing industry.
Representing the ATC, Searcy articulated the club's commitment to a thorough consultation process, mentioning they had intended to have the plan out earlier than it was released.
Rosehill Racecourse | Image courtesy of the Australian Turf Club
“We were actually planning to have a lot of this put in front of the membership before the AGM (Annual General Meeting on November 30, 2023), and unfortunately, that wasn't possible (due to NSW Premier Minns having COVID-19). None of us were able to speak because of the confidentiality agreement. Now we're able to get the detail out,” Searcy explained.
Searcy was candid about the challenges and opportunities that the sale of Rosehill presents. “We're a fairly new board. We are inheriting a lot of legacy debt, a lot of legacy problems,” she revealed, pointing to the financial pressures facing the club. The potential redevelopment of Rosehill is seen as a crucial step towards resolving these issues, offering a lifeline that could rejuvenate the club's facilities and secure its future.
Financial speculations and future plans
The interview also touched on the speculative nature of the development price, with figures ranging from $3 billion to $9 billion being discussed. These numbers, while unconfirmed, illustrate the significant potential impact of the sale on the racing industry in Sydney.
“That amount of money must be shown to the membership, must be shown to the industry, and get their feedback on what it could mean for racing for future generations in Sydney,” Searcy said.
However, the sentiment within the racing community is almost unanimously negative at this early point with the industry viewing the proposal with trepidation.
"We all hate the idea of selling Rosehill," Searcy admitted.
“None of us on the board, no one in racing, likes the idea of losing what is a core asset that we all love dearly. But we would be derelict in our duty as directors not to put this proposal in front of members, in front of the racing industry, and get the feedback, which is what we're doing.”
“We would be derelict in our duty as directors not to put this proposal in front of members, in front of the racing industry, and get the feedback.” - Caroline Searcy
The potential sale of Rosehill Racecourse represents a watershed moment for horse racing in Sydney, balancing the need for financial stability and modernisation against the need for a solution to upgrade infrastructure requirements while upholding the preservation of tradition and community values. Searcy's insights underscore the complexity of the decision at hand.
“It's in its infancy, and we want the feedback,” said Searcy, on the eve of the second ATC Members forum to be held at Randwick Racecourse on Saturday morning.
“Look, if the members vote against it, as far as the board's concerned, that will have to be the end of the matter.”
The forums are scheduled as follows and require an RSVP to the ATC to attend, more than 24hrs before the event:
• 10.30am Saturday 17 February at Royal Randwick
• 6pm Tuesday 27 February at Royal Randwick
• 11am Wednesday 28 February at Rosehill Gardens
