Race club at crisis point

THE mass uncertainty over the Eagle Farm upgrade has become so desperate that the Brisbane Racing Club has explored going it alone and seeking a private loan to fund a key element of the project.

The State Government has committed to the Eagle Farm renovations but Queensland’s best track has been dormant for 12 months waiting for an approval to fund the tunnels.

The tunnel money was to come out of a racing infrastructure fund and was basically a $ 12 million loan from that fund to the BRC which required State Government approval. It is unlikely Eagle Farm can reopen without the tunnels as they unlock the master plan to the entire Eagle Farm precinct which will include new residential developments and the existing stables being shifted to the infield.

Attempts to seek updates on the Eagle Farm loan approval have received only vague responses from Minister Bill Byrne’s office, increasing the frustration of top trainers and industry participants.

The Townsville Bulletin has confirmed the BRC has had preliminary discussions about a contingency plan to seek private funding for the construction of the tunnels.

The BRC is reluctant to speak publicly about its intentions, as its strong preference remains accessing the existing money which had been set aside for the project.

But BRC chief executive Dave Whimpey did not deny the club had looked into going it alone.

“The club is exploring options,’’ Whimpey said.

“Our board has resolved to get the tunnels done and Eagle Farm back in action as soon as possible.

“We do not want the project to be delayed any further.’’

all

While racing in Queensland is in limbo, sections of the industry are incredulous the State Government has just committed $ 30 million to build a new netball hub for the Queensland Firebirds.

They have no issue with the Firebirds, but point out that the Eagle Farm track would inject countless millions back in to State Government coffers.