Godolphin Australia: Crown Lodge, Osborne Park future up in air

Herald Sun

30-04-2025

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ANALYSIS
Godolphin Australia's decision to move away from a private training model has immediately led to speculation about the future of two of its most prized assets – Crown Lodge and Osborne Park.
James Cummings has been private trainer for Godolphin for eight years and has had considerable success for the racing and breeding powerhouse preparing horses out of the Crown Lodge stables at Warwick Farm and from the private training facility at Osborne Park, near Richmond.
But if Cummings is successful with his application to train out of Leilani Lodge at Royal Randwick, what happens to Godolphin's two state-of-the-art facilities in Sydney western suburbs?
Godolphin Australia managing director Andy Makiv said in a statement on Wednesday that it was the organisation's intention to move to a public training model from the start of the new racing season (August 1).
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Importantly, Makiv said Godolphin was not downsizing its presence in Australian racing and confirmed it was the plan to continue to have the same number of horses in training with several trainers including Cummings.
'Moving away from a private training model gives us greater business agility,'' Makiv said.
'Our numbers have and will remain stable, just as they have been for the past five years.'
This is a welcome indication that Godolphin remains committed to the Australian racing and breeding industry long-term.
But by changing to a public training model, economies of scale suggest the organisation will save considerable costs while maintaining its massive investment in Australian racing and breeding.
A Godolphin thoroughbred is cared for at Osborne Park. Picture: File / Toby Zerna
• Godolphin moves to public training model; Cummings to start anew
Godolphin Australia is expected to reveal its 2024 financial year results imminently. In the 2023 financial year, it reported a $33.4 million profit … a significant lift from the $7.5 million it made in 2022.
But the racing giant has not been immune from cost pressures. Godolphin's years-long legal challenge against a New South Wales land tax bill, which last year was ultimately unsuccessful, shed some light on the difficulties the operation faced in previous years.
A 2021 news report by The Guardian Australia, which quoted court documents and available financial records, found Godolphin Australia lost almost $148 million in the four years to 2021. In 2019 alone, Godolphin lost $25.5 million despite raking in $34.3 million in prizemoney and $10.2 million in horse sales.
Major line items on Godolphin's cost base are undoubtedly their Crown Lodge (Warwick Farm) and Osborne Park (Agnes Banks) training facilities, which respectively feature boxes for 125 and 84 horses.
By making the decision part ways with a private trainer and instead spread their horses among various stables, Crown Lodge and Osborne Park may well become surplus to requirements for Godolphin post-August 1.
Could one or both properties be sold? Or, if Cummings is unsuccessful with his application to open stables at Randwick, could he could come to an arrangement with Godolphin to lease one of the facilities?
After all, Cummings will next season still be training some of Godolphin's team including stars Zardozi, Tom Kitten and Tempted.
If Cummings was to base himself at Randwick, then no doubt a number of other trainers would look very closely at the possibility of utilising Crown Lodge, a state-of-the-art stable complex located adjacent to Warwick Farm racecourse.
Godolphin still has to determine how its training model will work for 2025-26 but it might consider leasing or selling one or both of their Sydney training properties.
There has been ongoing speculation that Yulong Investments is looking to expand its presence in Sydney racing and it might be interested in either or both Godolphin properties.
Racing NSW has acquired a number of racing properties in recent years and could also be interested in Osborne Park.
At the very least, Osborne Park must continue as a training facility as it is a magnificent complex that is fit for purpose and with a proven track record of success.
Godolphin employs a number of people at its Osborne Park facility and those jobs would be protected if the facility remains in the racing industry.
Originally published as Future of Godolphin Australia's Crown Lodge, Osborne Park facilities remains clouded after decision to move to public training model