RV’s golden goose
Speculation is rife that Racing Victoria are considering cashing in on an investment that could deliver hundreds of millions of dollars back to the sport.
RV purchased a large piece of land, about 30 mins northwest of Melbourne’s CBD and ten minutes from the airport in 2022. During the rich days for racing during Covid, RV once planned to develop it into a racing facility.
The site is huge, has views of the city and was once mentioned as a possible training complex or even racetrack.
But Betsy would bet there’s now more chance of townhouses than fast horses finding their way there in the years to come. If that happens, it could deliver massive returns to racing.
Originally the idea was the site would be developed so training at Flemington could cease. Any development at the northwest piece of land would have been partly funded by the sale of Sandown in a secret deal between the Melbourne Racing Club and RV worth $50 million. But for now, Sandown is safe.
Now in 2026, things look entirely different. RV’s finances are less stable than they were in 2022 and there is no appetite to develop the site into a racing facility.
Betsy spoke to several Flemington trainers that confirm they’ve been told they are no plans to move them on. Trainers at Flemington include the likes of Danny O’Brien, Gai Waterhouse, Chris Waller and the Hawkes family.
The VRC, however, said they are still working with RV on what training looks like.
‘’The VRC is proud to support 22 trainers and 600 horses at Flemington. Trainers are a key part of our community, and we’re working closely with Racing Victoria and our stakeholders to determine the future of training at the racecourse,’’ a spokesperson said.
Danny O’Brien gave credence to a more formal commitment from the club last week when explaining his desire to sell his 13th Beach property and concentrate on Flemington.
”Particularly with the recommitment to Flemington, there’s going to be a lot of money spent on Flemington over the next few years, upgrading the facilities here.’
Speculation is now what RV does next. RV declined to comment, but it is understood development of the site is definitely one consideration for the administrator.
The land is not currently zoned as residential and therefore its value hasn’t risen as sharply, but Betsy has been told casual conversations on the rezoning process have happened with a few racing folks who have made serious money in the development game about what to do next. The rezoning process could take years, but the payday would be huge. Game changing kind of stuff.
One source said the land, if revalued, would easily in the hundreds of millions of dollars. A rezoning would likely come with support of some within the state government,
And even if RV can’t or don’t want to rezone, its value has risen sharply too from what they paid for it. Smart business all-round.
Hunter Valley stud’s million-dollar play
One of Australia’s best stud farms could be set for sale. Betsy has been told one of the big players in the industry has come to terms with a Victorian based business in a deal worth tens of millions of dollars.
Follow the money
A set of figures released by Racing NSW are eye-catching.
They revolve around money paid to participants. It was only a few years ago there was a prize money war between Racing NSW and Racing Victoria. Fair to say that battle has been run and won.
Just a decade ago, Victoria’s return to participants outgunned NSW by $7.3 million. Now, NSW return $420 million to participants, an astonishing $117 more than Victoria, who return $309.9. There was one figure, released by Racing NSW, that had Victoria on top. That was the fees paid by participants. Participants in Victoria paid $10.8 million in fees, compared with $8.1 million in NSW.
We’ll let trainer Mick Price sum up the situation [and remember he’s a Victorian and entirely sensible].
‘’When it comes to prize money, if Racing Victoria thinks it’s not a competition they are mistaken,’’ he told Racenet.
Deck chairs at Racing Victoria set for a reshuffle?
Could we see upheaval on the Racing Victoria board?
Betsy has been reliably told that if Tim Rourke wants to become Racing Victoria’s new chairman later this year, then it’s likely he has the numbers. That’s if he wants it of course, he told people last year he wasn’t interested.
Word has it that current chairman Tim Eddy wasn’t exactly stoked with the possibility of losing the gig last year. Despite a few exchanges, there was no serious push to topple him.
Rourke is of course Eddy’s deputy [and an experienced and highly regarded executive] and has his strong supporters, many of them who hold serious sway in the sport. Many view him has the leading voice within Racing Victoria with close relationships across the clubs and of course, the breeders. But Rourke, we have been told, hasn’t expressed a strong desire to become chairman, given it comes with plenty of functions, committee rooms and ribbon cutting.
There are mixed views whether Victorian racing needs a strong public leader like other states. Eddy, a decent man and qualified operator, has very much taken a quiet public approach to the gig and barely pops his head up.
Those who support Rourke aren’t necessarily convinced change is needed because there is nothing his supporters want that isn’t already being achieved.
But with budgets and prize money allocations about to be sorted, you just never know what lies around the corner…
Day out at Collingwood
He may coach the biggest football team in the country, but Craig McRae still finds time to be a decent human too.
The Pies coach recently visited the Racing Victoria apprenticeship program, speaking to the future stars about mindset, amongst other things.
As he was finishing up for the day, he invited the apprentice staff of Darren Gauci and Danielle Smith to Collingwood’s headquarters to learn of their experts.
Smith told Betsy they were given incredible access to a range of experts.
‘’We had Craig McRae come and speak to the apprentices about elite mindset and he said, if you want to come in, have a look and even speak our nutritionist regarding what that we use for the apprentice program, then please feel welcome,’’ Smith said.
‘’So he hooked us up, and we spent the day there. It was incredible access. The day was unbelievable.’’
McRae of course is no stranger to racing – he part owns Feroce with his good mate, former Melbourne Racing Club chairman John Kanga.
Eye on the Gold Coast
Punters looking for some winners away from the metropolitan tracks might want to pay attention to Tony Gollan’s Gold Coast runners.
Gollan, a gun Queensland trainer has recruited well, announcing on Wednesday that respected trainer Lindsay Hatch would join his operation, working out of the Gold Coast.
“Lindsay is also great in the education and preparation of young horses which is important given the number of yearlings we purchase each year.
“His training ability is without question, and he comes to the stable as a lifelong family friend.
“Lindsay also brings with him the ability to mentor apprentice jockeys, and we see this as another great benefit to the stable moving forward.”
Hatch of course nurtured rising star Angela Jones amongst others, and given Hatch’s ability to train, smart punters should be watching Gollan’s Gold Coast runners closely.
A win for [Mrs] Gatto
Racing attracts all types, from all walks of life. One of the colourful types was at Caulfield to pick up the trophy on behalf of his wife, Cheryle.
Mick Gatto’s wife was part of the ownership group to watch Mr Independent win the second at Caulfield Heath on Wednesday. When we call Gatto colourful, we’re simply referring to his shirt of the day of course.
Gatto, never far from the headlines in Victoria [nor the action during the underworld wars], was all smiles picking up the $30,000 first prize check. Should cover the odd Flower Drum dinner and cigar.
No changes to World Pool for All-Star Mile
There was some brief speculation on Wednesday that the Victoria Racing Club had removed the All-Star Mile from its World Pool Races, which seemed like a strange decision. It ain’t true, the VRC said on Wednesday. Hugh Bowman ridding in the ASM will likely help turnover considering Hong Kong punters typically punting on those they recognise.
