The ACT owes Racing NSW $145 million within the type of a non-interest mortgage, and the Commonwealth Bank $30 million, due for reimbursement in October 2026.
Racing NSW additionally stated it had “proof of breaches of ATC’s Code of Conduct by board members, and has written to ATC outlining these considerations, which haven’t been adequately addressed.”
It is believed the alleged code of conduct breaches got here since ATC members voted down in May the proposal to promote Rosehill Gardens to the NSW Government for $5 billion.
“These governance failures compound monetary weaknesses, making it tougher for Racing NSW to belief and depend on ATC’s administration to successfully function our metropolitan race membership,” the assertion learn.
“Racing NSW needed to take the chance to reassure all individuals that this motion was
being taken to guard the pursuits of your complete NSW Thoroughbred Racing Industry.”
