28.01.11
By Chris Roots
Sydney Morning Herald
The merger of Sydney's two race clubs needs only to be signed off by NSW Racing Minister Kevin Greene after being given the all-clear by the Australian Competition and Consumer Commission yesterday.
A relieved chairman-elect John Cornish hopes to have the new club established early next month in time for the autumn carnival.
''It is good to get the ACCC's seal of approval and the racing minister has told us there are just a couple of things he has to do before the club will get the final sign-off,'' Cornish said. ''It could take seven to 10 days but we are hopeful by the second week of February the new club would be up and running.''
The merger has been a long process but a $174 million package was the incentive to get the Australian Jockey Club and Sydney Turf Club to merge.
The money will be used to refurbish Randwick and Rosehill racecourses. The $150m renovations to the stands at Randwick will be funded through a deal with the TAB, while the NSW government has provided a $24 million grant for an upgrade to the facilities and access routes at Rosehill.
A nine-man board has already been named, with Cornish as chairman and Michael Crismale as vice-chairman. AJC chief executive Darren Pearce was given the role of heading the new club.
Cornish said it was ''only the beginning'' and major building projects will begin after the carnival. Other staff decisions are still to be made.
''Kevin Greene has been a driving force behind this [merger] and has done a great job for racing along with [AJC chairman] Ron Finemore and [STC chairman] Bill Picken and their committees,'' Cornish said.
''We can see the finish line but it is only the beginning. We are in the process of putting together a world-class team and along with the new facilities they will take Sydney racing to another level.''