History of SAJC's financial decisions

Reminder: Sale of the TAB
and other discussions ABC News, 7:30 Report

The latest $4 billion sale

Fire sale fails to ignite glowing future

11th August 2004, The Portside Messenger

One month later, SAJC members were made to make a decision to sell.

Do you know Adelaide taxpayers afford the annual land tax, water rates, sewerage rates, electricity & gas tariffs, and other charges for the South Australian Jockey Club? This may well equate to about $40m for Cheltenham Park Racecourse alone.

Yet the SAJC are in debt! So, as in the past, the decision by the SAJC Board has been:

• If they sold their assets they will be in the black: Assets were sold in the past, and this revenue will never be recoverable in times of financial trouble in the future.

• If they sold the TAB they will have plenty of money to survive: The TAB was sold at a loss, and the SAJC continue to be in financial trouble. Quoting others, "they gave [the TAB] away". See the 7:30 Report transcript.

• If they sold Cheltenham Park: They will be forever a viable association, and afford the lease to the Adelaide City Council for the development and sustainability of Victoria Park. The loss of this open space will be an utter travesty for residents now and for future generations. What will the SAJC do when they are in financial trouble next?

The SAJC Board who know "little about the racing industry" have decided Victoria Park, which is "rock hard in summer and a bog in winter", as its choice*. The horses are being injured by the quality of the track at Morphettville even. Both racetracks will need to be resurfaced, but not at Cheltenham. Read further information about trainers who protested and were ignored by their Club. See also ABC's Stateline transcript (29.4.04) about the proposed sale.

14th November 2005 may well be the final chance to vote down the decision to sell Cheltenham, despite opposition for such a review. Instead "bulldoze the grandstands", named in honour of Wyndham Hill Smith, was the final word.

6th February 2004, The Advertiser

Labor MP hits Rann plan
4th July 2006, The Advertiser

Extract: Mr Sawford called on the Rann Government to instead overhaul the SAJC -- as it did with Basketball SA. "(It should) remove the current management and put in an administrator from a club like Moonee Valley or Rosehill, who know what they're doing about horse racing and have a commitment to the community," he said.

It's our turf is a good summary of the history and suggested plans for Cheltenham Park Racecourse.

* "After Saturday's Race Meeting at Victoria Park on June 3rd, there is not another meeting until September 2nd, a three month gap with the course not conducive to winter racing." extract from 29th May 2006, The Advertiser.