Cover image courtesy of Australian Turf Club
Australian Turf Club (ATC) members are set to vote on the proposed sale of Rosehill Gardens Racecourse, a decision that could reshape Sydney racing for generations. The Extraordinary General Meeting, scheduled for 3 April, will determine whether the club moves forward with selling the historic racecourse to the NSW Government for redevelopment.
The ATC board has positioned the sale as a necessary move to secure financial independence and future-proof the club’s operations. According to the official materials provided to members, the estimated AU$5 billion proceeds would be allocated to expanding and upgrading Warwick Farm, revitalising Royal Randwick, and acquiring a new site for Group 1 racing. The board argues that declining attendance and shifting wagering revenue models necessitate a transformational strategy.
However, the proposal has faced significant opposition, with the ‘Save Rosehill’ campaign raising concerns over the lack of transparency and certainty in the plans. Julia Ritchie, a representative of the group, has criticised the supporting materials, arguing that they do not justify the sale.
What are the resolutions?
Members will be voting on two key resolutions that outline the terms of the sale and the ATC’s commitments regarding a replacement racecourse.
The first resolution seeks approval for the sale of Rosehill Gardens to the NSW Government (or a nominated entity), subject to several conditions. These include a minimum sale price of $5 billion, an instalment payment structure of up to 15 years, and a guarantee that ATC can continue racing and training at Rosehill until alternative facilities are completed at either Royal Randwick, Warwick Farm, or a new Group 1 racecourse.
Additionally, the resolution would reclassify Rosehill Gardens as “non-core” property under the Registered Clubs Act 1976, allowing for a direct sale rather than a public auction or tender process.
The second resolution is that the ATC will replace Rosehill Gardens with a new Group 1 quality racecourse. However, no specific location has been disclosed as secured for this replacement venue, and the timeline for its development remains uncertain.
In the documents, the ATC asserts that the sale will be structured to allow continued racing and training at Rosehill until alternative facilities are ready, and believes this deal will future-proof the club, maintain racing excellence, and provide financial security for generations to come.
However, it's alleged that the majority of the ATC Board was not in support of the information distributed and where the proposal currently stands.
Concerns over voting process clarity
Amid the contentious debate, concerns have been raised over the voting process itself.
“We are in the process of clarifying the voting process, which many people are finding confusing,” said Ritchie. “We want to ensure that members’ votes are accounted for accurately.”
“We want to ensure that members’ votes are accounted for accurately.” - Julia Ritchie
Ritchie noted that Save Rosehill will be distributing clear voting guidelines on Thursday to ensure members understand how to correctly assign their proxies. “In the next 24 hours we’ll have clear steps distributed to all ATC Members that will ensure everyone is voting with clarity, and very importantly, ensuring their proxy is assigned to the rightfully intended person, so in the meantime we recommend to hold off voting. Save Rosehill will be advising their designated proxies for Rosehill on Thursday.”
Julia Ritchie | Image courtesy of Australian Turf Club
Adding to the confusion is the fact that the link provided under 'how to vote' in the email form links to a proxy form, not a direct voting form. This form automatically appoints the ATC Chairman, Peter McGauran, as the default proxy unless members manually opt out and select their own representative.
The ATC responded on X to concerns over the online voting process, stating that direct online voting is not available due to requirements under the Registered Clubs Act and the ATC Constitution. However, an online voting mechanism was used for the appointment of new Directors last December.
Some members have raised concerns over whether their votes are still valid if they select “no” for both resolutions but do not change the default proxy option from the Chairman. Questions remain as to whether the Chairman’s proxy status overrides individual vote selections.
Representatives of the ATC have been contacted to clarify, but had not responded at the time of print.
Lack of detail in the proposal
Beyond procedural issues, Ritchie has also criticised the proposal’s lack of depth and strategic clarity. “The lack of substance in the supporting material of their proposal shows there is no viable reason to support the sale of Rosehill Gardens.”
Opponents argue that the proposal does not guarantee a suitable replacement for Rosehill Gardens, with no secured location for a new racecourse. While Warwick Farm is set to receive upgrades, its suitability as a long-term replacement for Rosehill remains a contentious issue due to its location and position on a flood-risk area.
The ATC has identified two potential sites for the new racecourse—one east of Rosehill Gardens in the Rosehill-Camellia precinct and another in the Penrith Local Government Area. While both sites are being investigated, neither has been acquired, and no planning approvals or development commitments have been finalised. The uncertainty surrounding the replacement track has been a key point of contention among opponents of the sale, who argue that a firm location should be secured before Rosehill is sold.
Australian politician and New South Wales Legislative Council member Mark Latham has been fiercely critical of the proposed sale since its announcement. Posting on X, Latham questioned the NSW Government’s decision to spend $5 billion on acquiring Rosehill Gardens while the state faces pressing financial and social issues.
Mark Latham
“With a crime crisis in country NSW, our hospitals over-crowded, our schools failing, too many roads tolled and trains strike-riven, and the State Budget already heavily in debt, Chris Minns’ top priority is to... Buy A Racetrack! For $5 billion!” Latham wrote.
Further, Latham claims that there is no explicit guarantee in the resolution that the proceeds will go directly to the ATC. He states that Cabinet Office minutes suggest Racing NSW could take control of the funds instead, which he warns could leave the ATC without financial independence over how the money is spent. “It does not say the sale proceeds will come to the ATC. We know from Cabinet Office minutes Racing NSW will take the money,” he alleged.
“With a crime crisis in country NSW, our hospitals over-crowded, our schools failing, too many roads tolled and trains strike-riven, and the State Budget already heavily in debt, Chris Minns’ top priority is to... Buy A Racetrack! For $5 billion!” - Mark Latham
However, McGauran has repeatedly refuted claims that the funds from the sale would not primarily go to the ATC. At the Annual General Meeting last December, McGauran rejected suggestions that Racing NSW would receive a significant portion of the proceeds but did concede that some funds would flow back into the industry.
“The fact is, it’s ATC land. The money will come to us,” he said. “We would want to make some accommodation for the industry but the bulk remains with us. We’re already working on a future fund strategy to take to members because this is a critical question that you all have.”
Peter McGauran | Image courtesy of Australian Turf Club
The Rosehill Sale document outlines a high level strategy detailing how the ATC plans to allocate the proceeds of the Rosehill sale, stating that the remaining sale proceeds will be invested to produce an ongoing funding stream for future operations. The ATC proposes a formal investment operating model to ensure proper governance and financial oversight, outsourcing funds management. Under this model, an Investment Committee reporting to the board will delegate portfolio management, investment selection, and implementation to an external manager within board-approved limits.
The ATC asserts that the gross sales proceeds from the Rosehill sale will be paid directly to the club, ensuring financial independence from external influences like Racing NSW.
However Latham raised specific concerns about the financial structuring of the sale agreement, arguing that the resolution uses the term “gross sale proceeds” omitting to mention “net” proceeds, which he claims could allow the government to hide the size of deductions before funds reach the ATC.
“Govt (sic) will take huge funds out for service provision,” he posted on X.
Latham also mentioned the payment structure, noting that the sale allows for instalments to be paid over up to 15 years. He argues that this could create financial risks for the ATC, leaving it vulnerable to inflation, economic downturns, or delayed payments.
Without clear guarantees on how and when the funds will be delivered, he believes the ATC could face liquidity issues when trying to fund racing infrastructure projects.
What happens next?
ATC members have until April 1 to lodge their vote online, or they can attend the Extraordinary General Meeting on April 3 at 2pm in the Winx Stand at Royal Randwick.
The outcome of the vote will be critical in shaping the future of racing in Sydney. If members approve the sale, the ATC will proceed to further negotiations with the NSW Government. However, it remains uncertain whether all conditions, including the $5 billion valuation and long-term infrastructure commitments, will be met.
With concerns over transparency, governance, and the impact on the racing industry, the decision is proving to be one of the most divisive in Sydney horse racing history. The members’ vote will ultimately decide whether Rosehill Gardens remains a racing institution or is transformed into a government-led urban redevelopment project.
