The Australian Turf Club wants its members to endorse a proposal which will see it attempt to sell Rosehill racecourse directly to the NSW government in a deal worth a minimum $5 billion, but the voting process for next month’s special general meeting has already been condemned by the sale’s opponents.
In summary:
- The ATC has put forward the two resolutions which will be voted on at the SGM on April 3
- The proposal is for the NSW government to purchase Rosehill for at least $5 billion, delivered within 15 years
- The ATC would spend $1.9 billion on renovating Randwick, Warwick Farm and Canterbury and securing developing a fourth metropolitan racing site
- The remaining $3.1 billion would be invested, with that investment managed via 'an outsourced model'
- Critics of the proposal have raised questions over the online proxy nomination process as well as the role of the chairman as a proxy
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