WEBVTT - 'Extremely disappointing' - Peter McGauran on Rosehill decision

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<v Speaker 1>So the big news of the day is the decision

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<v Speaker 1>by the members of the ATC to vote against the

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<v Speaker 1>deal to sell off Rose Hill Garden's racecourse. This would

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<v Speaker 1>have seen the state government spend five billion dollars over

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<v Speaker 1>the course of about ten years to redevelop the land

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<v Speaker 1>for twenty five thousand homes. The vote has been unsuccessful,

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<v Speaker 1>so fifty six percent voted no, forty four percent voted yes,

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<v Speaker 1>and there were more people at the meeting that had

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<v Speaker 1>been expected. The Chairman of the ATC as Peter mcgorran,

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<v Speaker 1>Thank you for joining us, Peter at pleasure.

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<v Speaker 2>Clinton.

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<v Speaker 1>Are you disappointed this afternoon?

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<v Speaker 2>Yes, of course, I believe it was the best thing

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<v Speaker 2>for the club, for racing and for the community.

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<v Speaker 1>That being the case, and you were looking to generate

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<v Speaker 1>five billion dollars. Is the future the financial future Racing

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<v Speaker 1>New South Wales now in jeopardy because you won't have

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<v Speaker 1>that five billion dollars cash injection.

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<v Speaker 2>Certainly the ATC is I can't speak for Racing New

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<v Speaker 2>South Wales. That's Peter for Landyes, so.

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<v Speaker 1>Just interrupt that the ATC is in financial jeopardy.

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<v Speaker 2>Oh no, no, We'll always viable, Clinton, But we've only

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<v Speaker 2>ever got our nose above water, and oh no, we

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<v Speaker 2>run a great club, as anyone who's attended Randwig or

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<v Speaker 2>rose Hill would know, but we're never going to be

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<v Speaker 2>able to upgrade our facilities what members and public enjoy

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<v Speaker 2>at the moment. We've been doing that in twenty years.

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<v Speaker 2>We have no funding which requires hundreds of millions of

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<v Speaker 2>dollars given we own four racetracks three training centers to upgrade.

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<v Speaker 2>So that's the challenge that what is already quickly becoming

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<v Speaker 2>a niche sport will become an even smaller sport because

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<v Speaker 2>we don't offer a modern value offering to members or

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<v Speaker 2>general public. We've lost twenty five percent of our membership

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<v Speaker 2>since twenty nineteen and rose Hill has lost a half

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<v Speaker 2>of its attendances over ten years.

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<v Speaker 1>That's a fairly dire prospect then. So that being the case,

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<v Speaker 1>is this completely off the agenda or is there another

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<v Speaker 1>way you could revisit the plan to sell rose Hill?

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<v Speaker 2>No, it's off the agenda. It was an all or

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<v Speaker 2>nothing offer. Because the two drills digging the Metro begin

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<v Speaker 2>to hit at rose Hill Gardens in the next few weeks,

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<v Speaker 2>So the opportunity for a Metro to construct a metro

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<v Speaker 2>station is lost. You can't put in a metro station

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<v Speaker 2>once the line is completed.

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<v Speaker 1>But the government still could develop twenty fast thousand homes

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<v Speaker 1>without a metro in the future. It's not good, but

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<v Speaker 1>they could do it.

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<v Speaker 2>It would have to acquire the land and Chris Smins

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<v Speaker 2>and I believe and will never do that. He said

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<v Speaker 2>it privately and publicly so long as he's Premier. There

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<v Speaker 2>will not be a compulsory acquisition, okay.

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<v Speaker 1>To show up the finances of the ATC and the

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<v Speaker 1>strength of racing going forward in New South Wales? Could

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<v Speaker 1>you sell off other assets? Could you sell off Wick Farm?

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<v Speaker 2>For instance? No? What Warwick Farm? Because it's one of

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<v Speaker 2>our training centers with some eight hundred and fifty horses.

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<v Speaker 2>We couldn't do that. Canterbury Canterbury is a possibility, but

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<v Speaker 2>planning is complex there that it's not a sympathetic or

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<v Speaker 2>involved counsel to put it mildly and the return whilst

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<v Speaker 2>a few hundred million dollars not to be sneezed at,

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<v Speaker 2>would be welcome, that's basically a band aid. We needed

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<v Speaker 2>significant funding to completely reinvigorate and revitalize all of our

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<v Speaker 2>major assets.

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<v Speaker 1>But if you need that Peter and this has been

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<v Speaker 1>knocked over and selling off Canterbury's is to bandaid. What

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<v Speaker 1>are you going to do to reinvigorate racing.

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<v Speaker 2>Well Canterbury is a possibility and through the process Clinton,

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<v Speaker 2>a lot of members who are opposed to the sale

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<v Speaker 2>of rose Hill are not opposed to the sale of Canterbury.

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<v Speaker 2>But that could be a long process. Council have a

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<v Speaker 2>very different concept for that area. They want lower buildings,

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<v Speaker 2>they want more open space. You're not going to gain

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<v Speaker 2>what you really need, but sure, if you're really desperate.

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<v Speaker 1>You could look at it. You could look at it now,

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<v Speaker 1>you could look at it. I spoke with Gay Waterhouse

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<v Speaker 1>and obviously she's been an opponent of this campaign for

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<v Speaker 1>some time. She says, you should resign. Will you stay

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<v Speaker 1>in your position?

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<v Speaker 2>Yes, I'm not going to resign for a couple of reasons. First,

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<v Speaker 2>I would have been in breach of my fiduciary responsibilities

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<v Speaker 2>if I had not brought this proposal to members. It

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<v Speaker 2>wasn't for me to say, oh, I've decided it's rose

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<v Speaker 2>Hills too sentimental, it's of too much value to the

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<v Speaker 2>racing participants. I'm not even going to put this proposal

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<v Speaker 2>all seven directors voted when they were first told about

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<v Speaker 2>this in December twenty twenty three to put a proposal

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<v Speaker 2>to members. Now recently four of the seven directors supported

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<v Speaker 2>the actual proposal that was voted and the resolution by members.

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<v Speaker 2>So I'm a servant of the board. The board might

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<v Speaker 2>replace me, but I'm not going to stand aside.

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<v Speaker 1>So those proposals for free membership for the lifetime members,

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<v Speaker 1>free membership for five years, the thousand dollars behind the

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<v Speaker 1>bar and at restaurants and food out let's per you

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<v Speaker 1>for five years all off the table.

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<v Speaker 2>Now, yep, it's off the table. And the renovation of

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<v Speaker 2>the members' facilities at Randwick and Warwick Farm are off

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<v Speaker 2>the table. The upgrade of the stables at Warwick Farm

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<v Speaker 2>and Randwick are off the table. Look, I can't hide

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<v Speaker 2>my disappointment. Clinton. This was a chance once in a

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<v Speaker 2>lifetime because of a metro station that will now evaporate,

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<v Speaker 2>to revolutionize in a way every other race club in

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<v Speaker 2>the world would give their right arm to be able

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<v Speaker 2>to do.

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<v Speaker 1>I know you're the public face. This is the chairman

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<v Speaker 1>of the ATC, but as you know, the leader of

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<v Speaker 1>the Racing New South Wales organization Peter Velandis is very effective.

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<v Speaker 1>He usually wins in the end. Do you think there's

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<v Speaker 1>a way that mister and he was very supportive of

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<v Speaker 1>this proposal. Do you think there is a way that

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<v Speaker 1>mister Landi's can get his way through another means.

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<v Speaker 2>No, he accepts the members vote as I do. There's

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<v Speaker 2>no legal way to do it because remember the ATC

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<v Speaker 2>is governed by the Registered Clubs Act and that requires

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<v Speaker 2>a vote of members for the dispersal of land. So

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<v Speaker 2>it's the status quo and all the challenges that brings.

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<v Speaker 1>That is going to bring challenges for sure. Thank you

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<v Speaker 1>for your time, Peter, Thanks Clinton, Peter mcgorr who's the

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<v Speaker 1>chairman of the ATC. So there we have it. It's over.

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<v Speaker 1>We are now told it's over. Chris Minn says there'll

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<v Speaker 1>be no compulsory acquisition of rose Hill Gardens, so there'll

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<v Speaker 1>be no twenty five thousand homes at rose Hill