Rosehill will be sold for $5 billion. But what does the racing industry do now?

It’s a track more than a century old, hosts Sydney’s signature race in the Golden Slipper and has long been considered the best surface in NSW.

But news the Australian Turf Club and the NSW government are planning to close down Rosehill Racecourse within five years to help solve the city’s housing crisis has been met with a mixed response from the racing industry.

“It’s a great sadness that government has put it in place,” Hall of Fame trainer Gai Waterhouse said. “Have they done a really thorough investigation? I bet they haven’t.

“Races can be moved from course to course, but it’s the community at Rosehill and in the western suburbs [that it will affect].”

Here’s how the future sale will affect the state’s billion-dollar racing industry.

What’s happened so far?

The NSW government has entered a memorandum of understanding with the Australian Turf Club to buy the Rosehill site and develop 25,000 homes. The discussions had been ongoing for about two months, with strict non-disclosure agreements, before Wednesday’s announcement.

Stakeholders will engage in a 12-month unsolicited proposal consultation phase where they will develop plans for the precinct, which will include a school and a stop on the $25 billion Metro West line.

Why is the ATC doing this?

There has been speculation for years the ATC would cash in one of its core assets with a city racetrack sale - and most suspected it would be the Canterbury site.

The club had also heavily lobbied the government to have a stop on the Metro added to Rosehill.

Part of the proposal included having parcels of land at Rosehill rezoned as part of the Camelia precinct, including the car park and space on James Ruse Drive dedicated to the circus.

But the government said it wouldn’t be enough to convince them to add a Metro stop at Rosehill, hence a change of thinking where a sale of the entire racetrack became realistic.

How much will it generate for the industry?

The sale could generate $5 billion for the racing industry, future proofing it for decades to come.

Industry sources not authorised to speak publicly about the deal given it’s ongoing said the final figure could potentially be higher.

Race six selection Fantastic Baby runs second to Achira in a Midway at Rosehill on Golden Slipper day last year.Credit: Getty

Allowing for its suite of redevelopments at other tracks, it’s unlikely the racing industry and ATC would need $2 billion of that money for relevant projects, giving it a multibillion-dollar bank for generations to come.

Can the ATC members have a say?

Yes.

Given Rosehill is a core asset, members will have to pass a resolution to proceed with the sale, potentially as soon as next year’s AGM. It will need 50 per cent of members to green-light it for it to proceed.

Where will Rosehill trainers go?

About 300 horses train at Rosehill, which is the primary base for Australia’s top group 1 conditioner, Chris Waller. It’s still far less than the other two main training complexes in Sydney, Randwick and Warwick Farm, which can house up to 700 horses.

The ATC and NSW government have discussed setting up a state-of-the-art training centre on crown land at Horsley Park in the Western Sydney Parklands near the Sydney International Equestrian Centre.

The plan would be for a far greater parcel of land at Horsley Park than the 140 acres at Rosehill, including uphill gallops and tree-lined trails, opposed to the largely concrete jungle at Rosehill.

Where will the Golden Slipper go?

The world’s richest two-year-old race is the highlight of the Rosehill calendar, on a day in which five group 1s are held.

Early indications are when Rosehill shuts, the most likely venue to accommodate the Golden Slipper would be Royal Randwick.

What will happen to the other tracks?

The ATC would use the multibillion-dollar windfall from the sale to refurbish other tracks and facilities at Royal Randwick, Warwick Farm and Canterbury, accommodating the meetings lost in western Sydney.

No concepts have been advanced, and racing officials are cognisant of having to do it in a staged process.

Warwick Farm could receive overdue upgrades once Rosehill is sold.Credit: Getty

The priority would be Warwick Farm, which has suffered from a lack of investment for years. Initial discussions have included about lengthening the straight on the track and potentially raising it several metres given the area is flood prone.

Canterbury’s redesign could include a new track layout, which could potentially move the home straight to the south-eastern corner closer to Canterbury Road.

What’s the racing schedule look like?

Well, Rosehill will go out with a bang.

Given the urgent necessity to upgrade its tracks, the ATC is likely to turn Rosehill into a workhorse in its final years with it potentially hosting Royal Randwick’s biggest races such as The Everest, Doncaster and Queen Elizabeth Stakes if headquarters undergoes a much-needed course redevelopment.

There won’t be a shortage of racing at Rosehill in its final years.

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