Chairman Matt Cain has become the Melbourne Racing Club’s second high-profile departure in the space of two months with the long-time board member announcing his retirement.
Cain’s decision to end his 15-year tenure on the MRC committee follows chief executive Josh Blanksby’s resignation in June.
It also comes during a tumultuous time for the club.
In addition to dealing with a controversial plan to sell Sandown racecourse, which is subject to a month-long state government hearing from August 19 to September 16, the MRC has been the target of a backlash over the first stage of its Caulfield masterplan.
Built at a cost of $64 million, the MRC has been forced to take remedial action to fix issues such as a “not-fit-for-purpose” male jockeys’ room and mounting yard presentation.
Cain, who served as treasurer for six years before assuming the role as chairman in 2022, was up for re-election at the MRC’s annual general meeting in September.
He was elected to the MRC committee in 2009 and served as chair of the club’s finance sub-committee and as a member of a property sub-committee.
Cain has also been a director of the MRC Foundation board.
Warwick Barr
"I will be leaving the Melbourne Racing Club in a strong financial position, with the largest net-assets standing of any race club in Australia,” Cain said in a statement published by various media outlets.
“(I have) overseen significant progress in our Caulfield master plan including the creation of a major new event space, a new mounting yard, day stalls and pre-parade ring and the proposed development of a new grand pavilion at Caulfield," Cain said.
"Another significant achievement is the unveiling of the Caulfield Heath track, which will enable Caulfield racecourse to host up to 45 race meetings and facilitate the prospect of night racing at our premier venue.
"I've also been privileged to not only work with some great committees over the past 15 years, but also some outstanding and visionary CEOs such as Brodie Arnhold and Josh Blanksby.
"I would also like to acknowledge former chairs Peter Young, Mike Symons and Peter Le Grand. It is appropriate that the next chairman of the MRC drive the process to determine our next CEO."
Blanksby announced his resignation after seven years at the helm.
Warwick Barr
He will leave the club following the Memsie Stakes meeting at Caulfield on August 31, a fixture that heralds the start of spring carnival Group 1 racing.
His replacement has yet to be named.
