iskander

Huge cash injection if AJC-STC merge


Legislation for the merger of Sydney’s two race clubs could be passed as early as September .. igniting a 174-million dollar cash injection for the upgrade of Randwick and Rosehill racecourses.

The boards of the Australian Jockey Club and Sydney Turf Club will recommend their members vote for the merger .. which will save an estimated five-million dollars annually in administration costs.

Under the proposal .. 150-million dollars will be lent to the merged club to help fund the 200-million dollar Randwick redevelopment .. and a grant of 24-million dollars will fund refurbishment of Rosehill’s JR Fleming Stand and new vehicle and pedestrian access.