The ACT owes Racing NSW $145 million in the form of a non-interest loan, and the Commonwealth Bank $30 million, due for repayment in October 2026.
Racing NSW also said it had “evidence of breaches of ATC’s Code of Conduct by board members, and has written to ATC outlining these concerns, which have not been adequately addressed.”
It is believed the alleged code of conduct breaches came since ATC members voted down in May the proposal to sell Rosehill Gardens to the NSW Government for $5 billion.
“These governance failures compound financial weaknesses, making it harder for Racing NSW to trust and rely on ATC’s management to effectively operate our metropolitan race club,” the statement read.
“Racing NSW wanted to take the opportunity to reassure all participants that this action was
being taken to protect the interests of the entire NSW Thoroughbred Racing Industry.”
