🔒 🔒 Five candidates contest three BRC board seats as club posts profit boost

Brisbane Racing Club has reported a $4.65 million profit for 2025/26 as it prepares for a five-candidate contest for three board seats at its annual general meeting on October 14.

Chairman Richard Morrison and vice-chair Terry Svenson are among those seeking re-election as the club prepares for the staged redevelopment of Eagle Farm. Director Jennifer Creaton, who has been on the board since 2018, will also stand for another term.

Long-standing BRC members Cheryl Ahchee and Michael Rapkins are the other candidates.

“Candidate information and voting details have been provided directly to members and voting is live for 2026/27 BRC members,” a BRC representative told The Straight.

The results will be declared at the AGM, scheduled for 10am on Wednesday, October 14, at the Legends Bar at Eagle Farm Racecourse.

The annual report, published this month, puts profit for the year at $4.65 million, up from $2.19 million in 2024/25. Group revenue edged up from $89.1 million to $89.7 million, but operating revenue fell from $88.1 million to $83.2 million.

Morrison said final settlements in Charlton House, the third residential building in BRC’s Ascot Green joint venture with Mirvac, improved the financial result.

“Pleasing improvements were also achieved across our racing operations and licensed clubs, demonstrating the benefits of disciplined management and a diversified business model,” he wrote.

“The Brisbane Racing Club enters the future from a position of strength. With sound financial foundations, stable membership, exceptional racing and significant infrastructure investment underway, we are well placed to continue leading the Queensland racing industry into its next chapter.”

Chief executive Karl deKroo said turnover across the seven Stradbroke Season meetings reached $305.7 million, up 11 per cent on 2025 and 5 per cent on 2024. Carnival attendance rose to 36,422 and hospitality sales increased 8.7 per cent to $5.17 million.

“We certainly did not get everything right, particularly on Stradbroke Day where pre-raceday weather, congestion and pressure on our ageing infrastructure impacted the experience for some, but those challenges have provided clear learnings as we plan for the redevelopment period and the 2027 carnival.”

“We enter the new financial year with significant change ahead but with a stronger team, a more disciplined business, and considerable momentum. Our challenge now is to build on that progress and continue creating a Brisbane Racing Club of which our Members, our industry, and our people can be proud.”

Morrison said the Eagle Farm redevelopment would proceed in stages, beginning with removal of the John Power Stand and including upgrades to the members’ Heritage Stand and Paddock Stand and construction of The Terraces.

“A key priority throughout construction will be maintaining continuity of racing at Eagle Farm and Doomben,” he wrote. Morrison said interim facilities and hospitality offerings would be provided while construction temporarily changes the member experience at Eagle Farm.

The club’s master plan report says funding pathways for The Terraces are still being sought. Demolition of the John Power Stand is scheduled to start in the second half of 2026 and finish by February 2027.

Ahchee and Rapkins also challenged for positions in 2025, when another five-candidate field contested three vacancies.

As The Straight reported before that election, Ahchee and Rapkins stood against incumbent directors James Frayne and Kate Davies. Michael Pearson was the other incumbent on the ballot.

Morrison succeeded Neville Bell as chairman in January 2025 after Bell retired from the board. Svenson became vice-chairman at the same time.