Five candidates will compete for three vacant positions on the Brisbane Racing Club board as the club reported an increase in profitability in its annual report despite a fall in racing revenue.
Voting has opened for the BRC board elections and will close on October 14, the day before the club’s annual general meeting. Three previous board members are standing for re-election, and two other candidates are challenging them.
Kate Davies and Michael Pearson have been on the board since they were selected by an independent panel in March this year and are looking to have their appointments ratified by the membership.
Davies is the chief executive of Netball Queensland, while Pearson has extensive experience in both law and commerce.
James Frayne’s initial three-year term on the board has finished, and he is seeking re-election. He is the chief financial officer of Felix, a Brisbane-based technology company.
All three existing board candidates were nominated by BRC chairman Richard Morrison and seconded by vice-chairman Terry Svenson.
They will be challenged by long-time BRC member and retired businessman Michael Rapkins and former Qantas manager Cheryl Ah Chee.
Warwick Barr
Ah Chee was nominated by Diane Gant and seconded by Michael Shine, while Rapkins was nominated by Katherine Bourke and seconded by Brian Blades.
The Board underwent a significant change over the past year with the departure of long-term chairman, Neville Bell. He was replaced by Morrison. In the executive team, Karl deKroo was appointed as club chief executive last November.
In its 2024/25 annual report, the BRC reported a profit of $2.2 million, up from $1.8 million last financial year. The club’s property interests drove much of that, with the masterplan portfolio delivering $4.8 million in revenue and $3.5 million in EBITDA.
Racing revenue fell from $43.9 million to $43.4 million but overall revenue leapt to a record $89.1 million from $73.9 million.
“Prudent financial management remained a key focus. While operational costs continue to be carefully managed, our ongoing investment in infrastructure, precinct development, and member experience is yielding both immediate and long-term benefits,” Morrison said.
“Operational costs for Eagle Farm and Doomben have increased significantly. BRC has endeavoured to absorb as much of this cost as possible without significant price increases to membership, food and beverage and stable rents. This is only possible through the early implementation of BRC’s masterplan and the non-racing revenues it generates.”
The next 12 months at the BRC will be defined by progress on funding of the John Power Stand, which will be condemned in August 2026.
While there has been no confirmation of progress yet, deKroo said the club remains optimistic.
“Following the change of government, the club made substantial progress on the John Power Stand replacement project, with final planning approvals secured and funding negotiations nearing completion,” deKroo said.
“This transformative development will redefine the Eagle Farm precinct, delivering modern, inclusive facilities that honour our heritage while embracing the future.”
