Silver spoons at dawn as VRC boardroom war heats up
It’s silver spoons at six paces as the battle for the Victoria Racing Club board promises to provide one of the most fascinating boardroom spats Melbourne has seen in some time.
And we say promises because many independent observers – Betsy included – couldn’t give a rat’s bottom who wins, but there is almost a voyeuristic desire to watch some of Melbourne’s movers and shakers battle it out.
Betsy can reveal businessman and philanthropist Bill Guest is emerging as a key player in a tilt to enter the election fight.
In a sport seemingly obsessed with money, Guest can easily quench that desire – he comes from a family of considerable success.
Our favourite quote regarding Guest’s wealth was his own quip to SEN, joking he had his “first ensuite when he was two”.
Guest has since gone on to considerable success himself, but arguably more important is his significant charity work for the Australian Prostate Centre and, of course, the remarkable work he led with FightMND, given his close relationship with Neale Daniher. He also once served on the board of the Melbourne Football Club.
Guest didn’t respond to Betsy, but several sources with direct knowledge of the unfolding situation confirmed he is highly likely to stand.
Several people with knowledge of the process say he has approached other high-profile Melburnians with the profile and time to join a ticket to take control of Victoria’s biggest racing club.
Guest is close to the VRC’s deputy chair Michael Ramsden, who is understood to be upset he missed out on the top job to fellow board member Vin Cox.
It is also believed that one board member facing re-election has been told they face a looming challenge.
All the fallout points to the fact breeding expert Cox’s elevation to chairman is messy. The club said at the time the decision was part of “a comprehensive succession process”.
Some on both sides now concede the process was neither entirely comprehensive nor much of a process. But what happens next is anyone’s guess.
Guest and his mates are undoubtedly well connected and have their backers.
But Cox, too, isn’t without his supporters.
The club has also wasted no time putting Cox in front of members. On Tuesday morning, he was described as the incoming chairman before being asked a number of friendly questions about what he’ll do once in the gig.
Presumptuous perhaps, given sources suggest at least half the board doesn’t want him to get the gig. There is also the small matter of the upcoming members’ vote, although Cox retaining his position appears far more likely.
None of this is criticism of Cox, who also joined current chairman Neil Wilson and CEO Kyle Rogers on stage at a members’ event on Tuesday night.
While Wilson was at his best hosting the media this week in his last Cup Carnival in charge, Rogers herself has been caught up in the saga after it was alleged in The Age she had the casting vote that meant Cox got the gig.
In fairness, Betsy had been told the same thing. It’s a position, if true, that could be dangerous career-wise for the respected executive if Cox somehow doesn’t end up reigning supreme.
It is also an allegation that sources told Betsy isn’t true. The vote, we are told, was conducted anonymously and the numbers just fell Cox’s way.
Guest is unlikely to stand alone for election, but some of those mooted to join him would be doing it out of love for the club and the sport – they don’t need the headaches, enemies or risk of isolating themselves. They have the money to buy Cup runners and influence, therefore access to any committee room they desire.
There does seem, however, to be one key detail both sides agree on – the temporary armistice is just that, temporary. Once the club’s Cup Carnival is run and won, the politics can finally be played out in public.
Don’t mention the M word
Mergers – or stopping them – is expected to become a key battle ground if any candidates do actually attempt to join the VRC board.
There is concern that outside political forces are attempting to influence the club’s election in a bid to force a number of clubs to join forces.
While Racing Victoria have floated the idea of all three metropolitan club’s working together in the background – for roles such as finance, IT and marketing– there is no desire at all to see all three become one. Or at least for now.
Mergers seemingly have the strong support of participant groups, given any savings would be pumped into areas such as prize money.
But there are some at the VRC who want none of that at all.
Cup shares disappear
Mystery surrounds the sudden withdrawal of shares in Melbourne Cup runner Wine Dark Sea which suddenly disappeared for sale from Inglis.
Despite speculation, word from Inglis is that the owner wishing to sell the shares withdrew the listing.
Meanwhile, 9.5% of Vauban – set to run in yet another Melbourne Cup on Tuesday – were sold.
Three lots of 2.5% went for $10,000 each. Two shares of 1% went for $7,000 and $6,500.
Also worth remembering that every runner in the Cup will receive at least $100,000 in prize money – so they’ll recoup something almost immediately.
Racing blessed with its stars
As the sporting world zeros in on racing, a strong media contingent has put on the alarm to watch some of racing’s best get ready for the Cup Carnival.
This week the likes of Gai Waterhouse, Craig Williams and Ciaron Maher have done the sport a significant service by patiently answering as many questions as they are asked, with the coverage extending well into commercial media.
Waterhouse, of course, was at her charming best but ferociously across her detail when it comes to her stable stars.
Williams too is brilliant for the media – giving great grabs for the TV networks – and then he went and shook the hand of every journalist [and their camera operator!] once his interview was done. He even handed out candy to a few. All class.
Add in 7 Racing’s Bruce McAvaney – whose passion for the Cox Plate was evident on Saturday – and it’s clear racing really does have come crucial stars that have widespread cut community through.
Bumper betting as Cox Plate posts 15% jump
In a sport funded by punters, the more we bet the more racing receives in funding.
And going by those Betsy has spoken to, punters have undoubtedly lent into some big Victorian races.
Wagering for the Cox Plate, held at Flemington for the first time, was up 15% compared to last year.
To make that figure even more impressive is that last year’s Cox Plate meeting had ten races at Moonee Valley in 2025 versus nine this year.
Punters pile in at Caulfield
They may have had some track dramas, but clearly punters didn’t care given the figures out of the Caulfield Carnival.
Wagering across its carnival was up an impressive 9.2% year on year.
The club too had its biggest Caulfield Cup crowd in a decade with 30,092 on course.
There was also big increases in female attendees [up nearly 17% to 11,365] across the carnival.
Attendees aged between 18-24 too were up nearly 38%.
According to data supplied to Betsy, wagering turnover for the year at Caulfield is up 8%.
The club, meanwhile, has wasted no time pulling up that tired track with remedial works already underway.
Not Amused by debt
Betsy’s revelations that Amused Group, who previously owned betting sites such as Bet Deluxe, had appointed administrators has left few surprised.
What is shocking a few, however, is the amount of money the business seems to owe racing.
The saga threatens to snare a number of states and racing codes.
Betsy understands Racing Victoria carries a debt around $750,000 – but there are other codes in the Easten states that are owed far more. RV declined to comment on Wednesday.
What happens to the debts remains to be seen, but what will be fascinating will the administrator’s report when they get a look at the books.
Where exactly has the money gone? The revelations could be explosive.
Shark saves Tuvalu
So wild is this story from Mick Sharkie, we had to reach out to him to confirm it’s true – which he assures us it is!
We’d try and tell the yarn, but won’t do it justice.
Instead, from the 2.15 minute mark, watch for yourself.
What a yarn.
The stories don’t stop from @TheSharkTweet! 🙌
📺 Ch. 78/68, Foxtel 529, Kayo or via our app https://t.co/j2iSVNkEYc
— Racing.com (@Racing) October 26, 2026
Ballarat backs track to pass test
The Ballarat Turf Club are confident their meeting next week will proceed after last Friday’s racing was abandoned after jockey’s voiced concerns with a section of the track.
A horse slipped on a section of the track, with footage of Ben Allen kicking a piece of turf like a football later going across social media.
Stewards later deemed the track safe, but jockey’s voted to abandon the meeting, much to the frustration of the club.
The club have since remediated the affected part of the track, which they believe was caused by the horse slipping.
A senior rider inspects the track before every meeting, with Group 1 winning jockey Declan Bates inspecting it before last Friday’s racing.
The whole situation couldn’t have come at a worse time for the club, who had 270 people upstairs for their ladies day.
A set of trials will take place at Ballarat on Thursday, with Jordan Childs and Dean Yendall set to ride.
If the trials proceed without incident, it is expected the track will get a final tick of approval for next Monday’s meeting to proceed.
Politics over a pay day
Is one highly fancied runner chosen to compete in a different state, for less money and against far better horses, because of a political objection?
