Racing fans in Sydney will see a historic change over the next five years, with the iconic Rosehill Gardens to be developed into housing and events to cease at the track.
Amid negotiations between the Australian Turf Club (ATC) and NSW Government, news broke on Wednesday night revealing that the home of the Golden Slipper will be turned into 25,000 homes in the city's west.
In return for the racecourse being shut down, ATC and Racing NSW will receive an estimated influx of $5 billion, which will allow facilities and experiences to remain among the world's best.
Warwick Farm and Canterbury will both receive major upgrades and will likely host more metro events, while Randwick is also expected to benefit from the decision.
Why is Rosehill racecourse being shut down?
In a statement released to ATC members, chairman Peter McGauran explained the reasoning behind the bombshell move and believes the fresh revenue will set up the racing industry for long-term success.
"It is a compelling, once in a lifetime opportunity to transform our racing industry," he said.
"These funds will ensure all our racecourses and facilities, and Member and raceday experiences are the very best in the world – for many decades into the future.
"This proposal will involve careful and extensive due diligence with a full business case developed by ATC and the NSW Government.
"Along with these once in a generation improvements to our racing, training, stabling and spectator facilities, we are playing a major role within the community to help ease the housing crisis across Sydney.
"ATC and the entire racing industry on every level stands to benefit as we fully secure the future of Sydney racing into the next century. Rosehill Gardens will forever own the legacy of future-proofing Sydney racing for decades to come."
BREAKING: Racing to cease at Rosehill Racecourse in five(ish) years. Rosehill will be developed into housing by ATC with a metro stop to be added as part of the Metro West. @2GB873 @9NewsSyd
— Chris O'Keefe (@cokeefe9) December 6, 2023
The new proposal will see the following potential improvements to Sydney's racing sector:
- A new training Centre of Excellence at Horsley Park
- Several sites across Sydney will be earmarked and investigated for a new, world-class racecourse
- Warwick Farm racecourse fully redeveloped as a state-of-the-art racing, training, member and spectator facility with a new grandstand, new world-class tracks and new stables
- Canterbury Park racecourse will be redeveloped with a new state of the art racing, stables, member and grandstand facilities including a new grandstand and track improvements
- Royal Randwick racecourse to undergo a complete upgrade of the Official Stand, as well as new and additional stables and training infrastructure
Rosehill will continue to host racing until the completion of the works and the new facilities are ready to use.
When will racing at Rosehill finish?
At this stage, there is no clear end date for racing at Rosehill, with the redevelopments expected to conclude within the next five years.