ATC MEMBERS TO VOTE ON $5bn PROPOSAL FOR ROSEHILL GARDENS

Australian Turf Club Members will be asked to vote on the future of Sydney racing with a proposal to receive $5 billion from the full sale of Rosehill Gardens.

Under the Unsolicited Proposal process, the NSW Government will consider a proposal which provides ATC with minimum sale proceeds for Rosehill Gardens of $5 billion over 15 years.

The proposal requires a majority of Members voting to vote in favour at an Extraordinary General Meeting on Thursday April 3.

ATC Chairman Peter McGauran said: “This resolution is without any doubt the most important and consequential in the history of our Club and it is vital that every ATC Member votes.

“This proposal offers a one-off opportunity to make the ATC the most financially secure racing club in the world.

“Members and spectators will ultimately enjoy world-class facilities not just on racedays but seven days a week across several sites in Sydney.

“Trainers and jockeys will benefit from tracks, training centres and facilities unparalleled in world racing.

“Owners of racehorses will face a greater return on their investment as the injection of funding continues to flow right through the industry.

“Many Members love Rosehill Gardens and are reluctant to see it go but the truth is it’s an outdated venue with declining crowds and this proposal can rejuvenate and secure the racing industry for many generations to come.’’

The proposal will seek proceeds from the NSW Government to be paid in full to the ATC over a 15-year timeframe, with instalments timed to fund several major investments to racecourses and ATC Members facilities, including:

Royal Randwick

● A state-of-the-art Members Club in conjunction with a hotel development overlooking the famous Royal Randwick straight with new pool, gym, sauna and lifestyle facilities

● Enhanced dining and entertainment options with stunning track views

● Further upgrades to spectator experience including covered weather-proof entrances, cementing Royal Randwick as one of the world’s best raceday experiences

● New world-class stabling facilities with several hundred boxes for trainers to the benefit of owners

Warwick Farm

● A redesigned racecourse with a longer straight and cambered turns maximising every horse’s chance and paving the way for Group 1 racing to again be held at the picturesque course

● Expansion and upgrade of training facilities and on course stables

● Major renovations of Member and spectator facilities, transforming Warwick Farm into a world-class raceday experience

● A state-of-the-art fitness centre for ATC Members including fitness and lifestyle facilities

Canterbury Park

● Fully improved, modern spectator experience through comprehensive renovations to on-course facilities

A Group 1 Replacement Racecourse

· The ATC will replace Rosehill Gardens with a new Group 1 quality racecourse.

· Warwick Farm will be redeveloped to a Group 1 racecourse and the ATC will also acquire a new site for Group 1 racing and/or training.

The balance of sale proceeds will be invested by the ATC to create a future fund to secure the Club’s financial independence.

The USP process is currently in Stage 2, with the ATC expected to submit a formal proposal to the NSW Government later this year.

Find out more about the Extraordinary General Meeting here.

ATC MEDIA CONTACT:

Brett de Vine

0419 613 455

bdevine@australianturfclub.com.au