VRC shuts down merger speculation after secret meeting revelations

News.com.au

a day ago

Victoria Racing Club has shut down any potential for merger.
The staunch position statement to members followed a media report on Thursday about a meeting in February where club bosses canvassed what a merger could look like.
Billionaire racehorse owner-breeder Jonathan Munz hosted the roundtable between VRC chairman Neil Wilson, vice-chair Andrew Ramsden and Melbourne Racing Club kingpin John Kanga.
The masthead has confirmed the discussion took place but not advanced beyond the night.
Wilson and VRC chief executive Kylie Rogers co-signed a letter to members on Thursday.
'We are not pursuing or engaging on club merger activity and we have no reason, financial or otherwise to do this at this time,' the letter reads.
'We remain committed to working alongside Racing Victoria and the broader industry for the betterment of Victorian racing.
'Our focus is squarely on strengthening the VRC – growing our club, backing our members and partners, and building on the success of the Melbourne Cup carnival.'
The pros and cons of merging Melbourne's metropolitan racing clubs, VRC, MRC and Moonee Valley Racing Club, has been an ongoing industry discussion for many years.
Club members would need to vote in favour of a merger for the concept to gain any traction.
The Valley is set to be closed in October for a full redevelopment, including new track and grandstand, with an estimated 2027 return date.
Sydney counterpart the Australian Turf Club was created in 2011 following the merger of the Australian Jockey Club (AJC) and Sydney Turf Club (STC).
The VRC, host of the Melbourne Cup carnival, is the shopfront of Australian racing to the world while MRC anchors the bulk of Victorian metro meetings at Caulfield and Sandown.
The MRC has one of the strongest balance sheets in Australian sport with significant assets and a diversified business, including 14 poker machine venues.
The VRC battled financially post-Covid, lost $70m in four years, but is set to return to profit.
Southside Racing, entity following the merger of Cranbourne and Pakenham turf clubs, has exceeded all expectations.
While not privy to any VRC and MRC discussions, Southside chief executive Neil Bainbridge hailed the first 12 months of the Cranbourne-Pakenham merger an 'outstanding success'.
Bainbridge, however, conceded it is not a 'one size fits all' model.
'We're a lot more efficient, we're a lot more effective, we're a lot more aligned and we've got a common goal to grow racing in the southeast,' Bainbridge said.
'We think we've delivered some really good outcomes … Southside has been a success but driven by some unique circumstances and opportunities.
'We're a supporter and believer in what Southside has been able to achieve but certainly not suggesting there is a one size fits all model.'