McGauran backs Rosehill process, insists on members’ vote

Australian Turf Club chairman Peter McGauran has defended the process around the Rosehill sale proposal and insists ATC members will have final say on whether it proceeds.

*Rosehill racecourse is at the centre of a $5 billion proposal. (Photo by Mark Evans/Getty Images)*

McGauran released a statement to members on to clarify the circumstances of the ATC’s unsolicited proposal to the New South Wales government, which has been valued at $5 billion.

Documents publicly released under a parliamentary process known as a ‘call for papers’ have set out a timeline of the ATC’s and Racing NSW’s discussions with government as the Rosehill took shape.

As reported by The Straight, those documents include a briefing between The Cabinet Office and Enterprise NSW over whether the approval of the ATC members was needed to sell off Rosehill.

“The information we possess suggests that it is only the ATC board that would need to approve the submission of a proposal, and not also the ATC members,” the document response read.

However, McGauran, responding to what he said were ‘matters that have recently appeared in the media’ was clear that the ATC Board would take any Rosehill sale proposal to the members.

“Rosehill Gardens racecourse is owned by the ATC and in that sense, it is owned by the Members,” McGauran said.

“Rosehill will not be sold unless the Members decide to do so. Under the Registered Clubs Act 1976 the racecourse is not permitted to be sold unless the Members vote in favour of the sale.”

“If the Members vote against the sale that will be the end of the proposal. The Members’ vote will be respected.”

McGauran insisted that any proceeds from a sale of Rosehill would remain in the control of the ATC.

“The proceeds of the sale will be ATC’s money, and no one else’s. It will be invested and spent in the interests of the ATC and its members,” he said.

The ATC’s determination to retain all the financial benefits of the sale stand in contrast to what Racing NSW spoke to The Cabinet Office about in a confidential meeting on November 17.

It suggested legislative reform was needed to the function of the ATC board partly to ensure ‘that the revenue derived from the ATC proposal is reinvested to benefit the racing industry as a whole.”

The statement from McGauran also laid out the timeline of events from the ATC’ Chairman’s perspective.

He said the ATC executive’s discussion with government over a rezoning of ‘surplus racecourse land’ which would not impact racing had evolved into discussions about the possible sale of the entire racecourse.

McGauran said it was at this point that he was informed by the executive and he then told Racing NSW about the project.

He said once non-disclosure agreements had been signed that the remainder of the ATC Board was informed. He defended that process and said ATC members were then informed “as soon as practicable.”, which was December 6.

McGauran said the board was committed to continuing to inform members on the proposal, which was submitted to government on March 28.