Members of the Australian Turf Club have rejected a plan to sell the Rosehill racecourse in Sydney for $5 billion that NSW Premier Chris Minns had backed to open up prime suburban real estate and build 25,000 new homes.

The proposed transformation of Rosehill Gardens into a mini-city with a new metro railway stop divided Sydney’s elite and racing community, with proponents including Minns and Racing NSW chief executive Peter V’landys pitted against an old guard in the ATC membership led by veteran trainer Gai Waterhouse.