Steve Rosich steps down as Victoria Racing Club chief executive

Steve Rosich will depart the Victoria Racing Club after less than four years in the chief executive job but will continue in the position until a replacement is found.

Rosich, who spent a decade as CEO of AFL club Fremantle before taking the VRC role in June 2020, will assess his future career options while he finishes up at the club. He recently advised the board of his intention to resign.

“After four Melbourne Cup carnivals and working with the VRC board and team to deliver on the VRC’s strategic priorities, it feels like the right time to provide the VRC with notice of my resignation,” Rosich said.

“I commenced as CEO at the height of the COVID-19 pandemic and together with the wider team, we navigated the challenges of that period to come out the other side with key success milestones including record membership levels, a new media rights agreement, corporate revenue growth and record economic impact.”

“The future of the VRC is very bright and secure with everyone at the club committed to building on the milestones we have achieved together.”

The pandemic hit race clubs hard, including the VRC, which had spent $130 million on its Club Stand, which opened in 2018, just 18 months before lockdowns and crowd restrictions caused havoc with the finances of all sporting clubs and bodies.

Rosich arrived as the VRC was trying to negotiate these trying circumstances as well as increasing scrutiny on Flemington’s greatest race, the Melbourne Cup.

The blub has racked up more than $45 million in operating losses over the past three completed financial years, but recently inked a six-year deal with the Nine Network to broadcast Melbourne Cup week. That deal is estimated to be worth around $80 million, and was brokered by Tabcorp, which also extended its association with the VRC.

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VRC chairman Neil Wilson thanked Rosich for his commitment to the club during his time.

“On behalf of the VRC board of directors and the VRC team, I would like to thank Steve for his significant contribution to the VRC,” Wilson said.

“During his tenure, we have seen the VRC emerge from the COVID-19 period well placed, with the business achieving significant milestones, including record membership and corporate revenues, growth in Cup Week crowds, the new media and wagering partnership with TAB and Nine Entertainment and record economic contribution from the 2023 Melbourne Cup Carnival to the State of Victoria.

“Steve will be continuing in the role as CEO during the recruitment process for the new CEO.”