Key positions have been announced to head Sydney's new race club which it is hoped will be up and running by the end of the month.The only obstruction to the merger of the Australian Jockey Club (AJC) and Sydney Turf Club (STC) is a ruling by the ACCC which is considering submissions over competition concerns.John Cornish, the current AJC vice-chairman, will be chairman of the nine-man board, STC director Michael Crismale is the vice-chairman while AJC chief executive Darren Pearce got the nod o

Key positions have been announced to head Sydney's new race club which it is hoped will be up and running by the end of the month.

The only obstruction to the merger of the Australian Jockey Club (AJC) and Sydney Turf Club (STC) is a ruling by the ACCC which is considering submissions over competition concerns.

John Cornish, the current AJC vice-chairman, will be chairman of the nine-man board, STC director Michael Crismale is the vice-chairman while AJC chief executive Darren Pearce got the nod over his STC counterpart Michael Kenny to take the same role at the as yet unnamed new club.

Cornish, a Sydney property developer and racehorse owner and breeder, said it was exciting to be a part of the future of Sydney racing.

"It is historic for Sydney racing and the beginning of an era," Cornish said on Wednesday after the announcement was made.

"It is a unique opportunity and we must grab it and move on.

"It has been a long and arduous process to get to where we are but it has been fair and transparent."

The new club will receive a cash injection of $174 million, with $150 million to come from the TAB to be spent on major renovations at Randwick Racecourse while the NSW government will provide $24 million for upgrading access routes to Rosehill Racecourse.

Other remedial work is also scheduled for Canterbury and Warwick Farm racecourses with construction of key infrastructure to begin as soon as possible.

"We had hoped to be in place by January 1," Cornish said.

"Every day that slips by makes it harder.

"Nothing is a formality and we respect the ACCC but we are hoping for a decision by the end of the month."

Pearce, 38, said he was looking forward to the challenge.

"We want to put Sydney racing back on top," he said.

"We have a new vision for Sydney racing.

"We have world-class facilities at Randwick and Rosehill and we need to make the most of Canterbury and Warwick Farm."

Four committees have also been formed with Crismale to head the audit committee, independent director Lauri Macri - finance and remuneration, STC director Max Whitby - merger integration and independent John Camilleri - property development.