Staunch defender of NSW racing chairman Russell Balding to have term extended another two years

He helped breathe fresh life into horse racing in NSW with new events like The Everest and The Golden Eagle. Now the NSW Racing chairman has secured another two years in the saddle.

The chairman of Racing NSW is set to have his term extended for another two years to ensure “continuity” as the industry grows and develops.

The move has been approved by cabinet and is expected to be passed into legislation with bipartisan support in both Houses of Parliament before Mr Balding’s term expires in December 2023.

It follows a united call from NSW trainers, owners and jockeys to extend the term of the man who has helped Racing NSW chief executive Peter V’landys pioneer successful new races such as The Everest and The Golden Eagle and breathe new life into the spring carnival.

He has been a strident defender of NSW racing as it came under attack from Racing Victoria officials furious at the success of the new races and took the Victorian body to court for anti-competitive behaviour after it plotted to form a new national body that excluded NSW.

Racing NSW Chairman Russell Balding will have his term extended for two years. Picture: Toby Zerna

NSW Gaming and Racing minister David Harris said extending the terms of Mr Balding and his deputy chair Saranne Cook would secure the future of a $3.3 billion industry in NSW.

“Corporate stability during some challenging negotiations in coming months is crucial to the future continued success of the industry,” he said.

“More than 90,000 people across the state are involved as employees, participants or volunteers and the flow on effects sustain more than 50,000 local jobs, either directly or indirectly.”

Balding has helped NSW Racing CEO Peter V’Landys pioneer races like The Everest and The Golden Eagle. Picture: David Swift.

Chairman of Racing NSW, Russell Balding, speaks at the unveiling of The Everest Trophy in Sydney in 2017.

Over the next two years the industry will have to deal with the impact of changes to wagering, increased spending on country tracks and increased transparency around the rehoming of retired race horses.

“My strong expectation with this appointment is there is increased transparency around welfare and rehoming, greater support for provincial races and a continued commitment to supporting a responsible, sustainable, and competitive racing industry,” Mr Harris said.

The Everest in 2023 was the vision implemented by Balding and Peter V’Landys. Picture: Monique Harmer

Mr Balding, a former managing director of the ABC, had already had his eight year term extended by the previous government twice in 2019 and 2021. Mr Harris said his experience in keeping the racing industry running through Covid was too valuable to lose.

“The Board demonstrated particular skill in guiding the industry through the very challenging Covid period and I want that knowledge focused on negotiating a pathway to continued financial sustainability through emerging economic headwinds,” he said.

Everest winner Think About It and Jockey Sam Clipperton. With the assistance of Balding it has become a pillar of NSW Racing.

Mr Balding has been a champion of NSW racing in the face of protests from Victorian racing that the new races including The Everest, the world’s richest race on turf, and The Big Dance on Melbourne Cup day detracted from the traditional spring racing calendar.

Broadcaster Alan Jones used a speech at the Carbine Club in Victoria to attack the timing of The Golden Eagle.

“There are 365 days a year and it ought to be possible to organise a $10 million race in Sydney that doesn’t correspond with the great Victoria Derby,” he said.

However both Mr Balding and Mr V’landys have insisted the new races are designed to complement the Victorian calendar and boost the interest in racing and wagering for both states.

Despite the aggressive Victorian campaign against the NSW strategy wagering has gone up in both Victoria and NSW on The Everest and The Golden Eagle race days and driven record crowds to deliver an enormous economic dividend.