Betsy is publishing its top ten power lists for both NSW and Victoria, detailing the key powerbrokers in racing and their key relationships.
Some on these lists will be household names – there are others that punters will have never heard of.
But they are all crucial players in an industry worth billions of dollars.
The list is not designed to highlight those in positions of power or roles that give them prominence, it’s created to have a look at those who actually have an impact, with the ability to shape crucial decisions on how racing in Australia is run, and crucially, how punters are treated as a result.
- JONATHAN MUNZ
When compiling this power list, an interested party joked – so it’s Munz first, daylight second?
As poor a joke it may be, the suggestion is true – there is nobody in Victorian racing that has the influence of billionaire Jonathan Munz.
He is passionate, energetic, combative, loyal, kind and tough – Munz’s power in Victorian racing seems limitless.
Munz is a proud father, savvy businessman and passionate racing man. His relationships across breeding, board rooms, media, trainers and clubs are easily the most intertwined I have seen in racing. Not that you’ll often see him on a racetrack.
He hates when journalists mention his wealth, because he is of the belief his money is not correlated to his ability to influence.
In his defence, that thesis can be somewhat true. In researching for this piece, perhaps what became clear is that the power of Munz is not entirely because of his wealth [it helps, no doubt, but we’ll get to that].
Munz’s reach in racing came via simply creating a powerful bloc of stakeholders, some of whom have traditionally felt ignored by Racing Victoria. This is not an argument to say their views are right or wrong – it’s simply recognising that the power in racing has shifted from the RV board and CEO to racing’s stakeholders – and Munz at times is their unofficial spokesman.
He is long of the belief that his main role in racing is to unite stakeholders and not let people “fuck it up’’. His haters doubt his sincerity but he couldn’t care less.
But the reality is Munz is now the figurehead that will deal with RV or anyone else on pretty much anything, as long as he believes it’s good for racing or those he works with. Behind him is an assortment of influential groups that, for now, are either united or at least getting along. In a sport as politically divisive as racing can be, that’s nothing short of a rare.
And when they need something done, it’s often Munz leading the charge. They include the Victorian Racing Club and the Melbourne Racing Club as well as Australian Trainers Association and Thoroughbred Breeders Victoria.
Munz himself is the chairman of the Thoroughbred Racehorse Owners Association which is an important title as it gives him an automatic seat at the table with Racing Victoria, including the racing forums involving Victorian stakeholders [believed to be a Munz idea], and important votes in critical racing matters.
Mystery remains how often his TROA board meet, how officials are elected or come up with official positions, but the title gives Munz even greater gravitas in the sport, regardless of his wealth.
He is adamant that due to the fortunate financial positions he finds himself in that he cannot be touched by his enemies so he should fight for what he, and others across the industry believe racing needs, regardless of their status.
Munz does his own dirty work – he makes his own calls, works his own networks, lobbies who he thinks needs wooing, he will fight his own brawls and won’t play the coward’s game if he thinks you’re no good – he’ll tell you to your face.
He can swear like a sailor but quote you constitutional law. He will ski in Aspen [and well, by all reports] then dial in to the Magic Millions sales. Munz is the only power broker I’ve come across in my career that will on one hand run a deal from his private plane on the way to New York [he never flies at night], but be across the tiniest details in racing’s decision making that most either wouldn’t know about [or in some instances care].
He is a passionate breeder and has formed strong relationships with some of racing’s most prominent figures. The power of the breeding networks in Australian racing is still obviously significant and solidified across racing’s boards.
Munz is also a prolific networker – from stakeholders, journalists, administrators and club staff – he knows them, works with them or if they get in his way, he will find another avenue.
His falling out with former Racing Victoria CEO Andrew Jones led to him calling a special general meeting in 2022 to roll members of the RV board as a way to also then clean out the executive [including my business partner and good mate Matt Welsh, who at the time was RV’s General Manager of racing].
Against all odds, Munz nearly pulled off the coup. An hour before the vote he had the numbers – apparently only for a phone call from another powerful Victorian warning a few club officials of the repercussions that may follow if the board was toppled.
That meant the vote didn’t get up [the fact that nearly a majority abstained from voting, essentially voting for an empty chair, should have been a sign change was inevitable and Munz would finally get his way]. But herein lies the mystery of Munz – one man nearly toppled an administration, defied a state government minister and worked club boards over for change. He undoubtedly had the support of some clubs and a few stakeholder groups, but he was the face of the push and did most of the work.
The board and Jones survived for a few months – but as Munz told me outside RV headquarters that day, it was only a matter of time. And sure enough, he was right.
The RV ‘interim’ chairman Mike Hurst finally retired and was replaced by Tim Eddy [a candidate Munz did not support], and Jones and Welsh were removed from the RV executive, along with Jones’ mate Ben Amarfio.
The fall-out didn’t stop there – those who worked to defeat Munz’s motion later found themselves exposed politically. Some no longer work in the sport.
Those on the RV board spoke of a tough game when workshopping how to navigate Munz and the rise of clubs and stakeholders. Betsy is told they even considered legal options.
But both Hurst and Eddy conceded ground. The last man at RV to have a crack at Munz was former chairman Brian Kruger in one of his last meetings, when both delivered each other some verbal feedback that would make a footballer blush.
Sources told Betsy that a battle between Munz and Southside racing at RV headquarters earlier this year, too, was epic. They battled it out over plans to give Southside metropolitan status, agreed to under Jones’ reign.
Current RV CEO Aaron Morrison is understood to have privately expressed his difficulties regarding recent dealings with Munz.
The reality is despite Morrison’s title, it’s the collective of stakeholders who now hold the power, led by Munz. One club administrator told Betsy that while Morrison is CEO, he can’t make any decision of note.
Now here underlies the shift in power in racing.
RV’s biggest criticism in the past, from those it has served, is that it failed to listen, consult or properly engage.
That view has since shifted – while there is still an underlying mistrust between the power brokers in racing and Racing Victoria, undoubtedly stakeholders are now properly dictating racing’s future. For now, they are happier and feel listened to and will continue to support RV’s leadership as long the current parameters don’t change.
In short, there is a view that the leadership at RV is there to execute an agreed strategy, not necessarily create one.
It can be true Munz can be aggressive, which I have no doubt Morrison has experienced.
Unfortunately for Morrison, Munz has at times been incredibly well briefed about the internal operations at RV, especially financially. How RV pivots remains of current interest to many, as there is still a view RV has fat to trim.
Some who spoke to Betsy ridiculed the suggestion that stakeholders have always sided with Munz or shared his world view. But in 2025 things shifted and there is an acceptance that now the clubs and stakeholders are united.
So when RV tries to make calls that Munz and his stakeholder groups don’t support, it’s now much easier to stop.
For example, some at RV were adamant prize money should be cut in 2025 as wagering dropped off. Stakeholders were never going to let that happen.
The view of the bloc that supports Munz was that such a decision would be a free kick to Sydney and RV should cut costs elsewhere, which is what eventually happened.
Probably the most significant battle of late surrounds the pattern. Munz, again at the behest of several stakeholder groups, worked hard to wind back a deal between Victoria and NSW. He was ferocious in meetings and didn’t hold back behind the scenes, angry that RV did a deal he viewed as poor without the contribution from stakeholders and, importantly, breeders. The Age reported at the time there was a mood for change at board level [again].
Eddy and Morrison survived the fiasco and probably learnt a key lesson – times have changed, no longer can RV make decisions without consulting far and wide.
Munz sat on the panels that chose RV board replacements and you’d consider it extremely likely he’ll be on the next committee in coming weeks to recommend to Racing Minister Anthony Carbines who should be next.
Those close to Munz genuinely believe he fights for causes that benefit the sport, not his own agenda. His detractors, and there are a few, argue Munz is a passionate breeder and his only interest in the pattern is his own. Same goes for prize money, they say.
This is where I will bring in Munz’s wealth. While it’s true he worked behind the scenes to maintain the pattern, which is important to his breeding interests and Group prizemonies that could benefit his runners, he pushed hard for uplifts to maidens and country racing. A $27,000 first place cheque [or any prize money, really] ain’t going to matter to Munz.
He also pushed hard for digital ticketing for owners [wild that it wasn’t done already]. In the quagmire of racing politics in 2022 when Munz was battling Jones and Co, someone high at RV made the call to scrap the initiative to spite Munz and save a paltry $300,000. Needless to say, those who made that call no longer work in racing. RV finally announced digital ticketing for owners last week.
He even battled Racing NSW over prize money for strappers. Strappers are paid a percentage of first place prize money in NSW. When Munz’s strapper didn’t get a cent when Giga Kick won the Everest because it wasn’t a NSW operation, Munz intervened. The cash was paid, apparently to other Victorian operations too.
He is one of the few who has paid ‘slings’ to his big winning jockeys [Craig Williams on Giga Kick] – but you only need one ride he deems poor and you’ll be given the flick [Craig Williams on Giga Kick].
In working on this article I spoke to one important operative who was once at the centre of Munz’s full anger. To protect their confidence, I can’t go into detail of the spat. Munz and this individual went to war – Munz was always going to survive, but so did this operator too. Munz was ruthless in his approach to the topic and the person in question.
In chatting to this person last week, he conceded Munz “meant well’’ and was good for the sport. Considering how hard fought that battle was, it’s genuinely surprising.
Make no mistake, there are others who won’t and don’t share the same warm glow in their reflections, who have complained about how they are dealt with or spoken to.
Munz’s power in clubland in 2024 grew significantly and he was influential in the changing of the guard at the MRC, becoming close to chairman John Kanga.
Both men were also previously close to short-lived MRC CEO Tom Reilly. Reilly lobbied both hard to get inside the MRC and eventually fell out with each, which was always a risky play.
And when Reilly was punted, it was Munz’s protege Tanya Fullerton who stepped in.
When the MRC decided it needed help with its tracks, it decided to contract Munz’s track expert from his Pinecliff base.
Kanga and Munz remain close and both have formed strong relationships inside the VRC.
When a secret meeting between the Victorian Racing Club and the Melbourne Racing Club was held apparently to discuss mergers, it was held in Munz’s humble Toorak abode.
This, to me, is the most fascinating piece of work that will almost certainly play out behind the scenes. The MRC has the cash, the VRC has the prestige and size, Munz the connections and power, and RV the will to see the two clubs merge.
Relations between the parties cooled when The Age reported the merger meeting, with each accusing the other of leaking the details [even some at Moonee Valley got blamed]. The source, the story goes, was eventually outed as a disgruntled ex-employee and life moved on.
Concern remains about the shift in power from administrator to stakeholders. At the end of the day, RV’s job was to essentially manage these groups for the betterment of the sport. Speculation persists that the state government looked at even changing certain constitutional elements [essentially changing voting rights] of racing in Victoria to combat certain stakeholder influence.
One thing is for sure – as Victorian racing eyes off significant changes to its operations – from clubs, facilities, prize money, the pattern, the media business and how it protects or even grows its revenue base – the most influential voices in all those decisions will be a collection of stakeholder groups, and Munz, their unofficial leader.
