Three Waikato racing clubs agree to amalgamation
Waikato racing is set to follow the Auckland region with the formation of a mega club to strengthen thoroughbred racing in the heartland of the industry.
Members of the three Waikatobased clubs have voted for the Waikato Racing Club (Te Rapa), Cambridge and Waipa to join forces to form Waikato Thoroughbred Racing (WTR).
The new entity will commence operating on the first day of the new thoroughbred racing season on August 1, allowing time for the regulatory changes required and the setting up of new governance and financial structures.
Waikato Racing Club chairman John Elstob, who chaired the working group for the formation of WTR, believes the new entity has obvious benefits to the industry.
“Collectively, the merger places the newly formed club in a significantly better position to accomplish our primary objectives, surpassing the capabilities of any individual club or combination of two clubs,” said Elstob.
“The merged club will have improved scale and strength, as well as the flexibility to advance its racing and training operations.
“These positive effects will extend beyond the WTR itself, benefiting the racing industry throughout the entire country.”
The formation of Waikato Thoroughbred Racing will mirror what has happened further north, where Ellerslie and Pukekohe, with future co-operation pledged from Avondale, have formed Auckland Thoroughbred Racing, creating a shining light at the end of what has been a sometimes dark tunnel for the industry.
The new Waikato club may not have the large short-term financial benefits made possible by the Auckland amalgamation but it will allow the region to present a united front on major issues.
One of the major discussion points around the future of the Waikato thoroughbred industry is whether a new, purpose-built racing precinct should and can be developed, imaginatively known to most in the industry as The Greenfields Project.
Some of that chat has centred on whether a valuable asset like Te Rapa should be sold to raise capital for a new training and racing facility, while Waipa would seem a track that could definitely be sold, especially with Cambridge now having a synthetic track used for trials and racing.
The new WTR will have a board appointed for its first two years that will comprise two officials aligned with each of Waikato RC, Cambridge and Waipa, and one of their most important tasks will be to deliver a venue plan for the region.
With Te Rapa such a valuable asset and part of a major city, and Cambridge having a new track and a hub for the industry, a new racing precinct may ultimately not be seen as the right decision for the industry.
But at least now that decision can be made in a more united fashion, whereas three separate entities potentially arguing over the merits of their venues, or a new venue, was a recipe for a wasted decade.
While the amalgamation won’t save a lot of money initially, as all three clubs have only small staff numbers, WTR could eventually save millions of dollars in poor decision making based on interclub politics.
The formation of WTR comes as the third leg of a historic, important and ultimately progressive treble for thoroughbred racing in this country and particularly in the north.
The formation of Auckland Thoroughbred Racing is set to have enormous benefits for racing in the region, most tangibly stake increases and Ellerslie’s new StrathAyr track.
Last week’s partnering between the TAB and Entain will not only inject at least $100 million into racing but is also set to change the way New Zealand punters and those overseas view and bet on New Zealand racing.
And now Waikato, the heart of the thoroughbred industry and one of the world’s great breeding regions, is getting its ducks in a row for whatever comes next. More light, less tunnel.