The merger of Sydney's two race clubs is set to go ahead despite a Sydney Turf Club members' vote rejecting the proposal last week.The board of the STC advised its members and NSW racing minister Kevin Greene it would support the merger after some key amendments to the original plan to join forces with the Australian Jockey Club (AJC).A major point of contention was the perception the STC's Canterbury Racecourse could be sold after five years.The new conditions state that a moratorium on the sal
The merger of Sydney's two race clubs is set to go ahead despite a Sydney Turf Club members' vote rejecting the proposal last week.
The board of the STC advised its members and NSW racing minister Kevin Greene it would support the merger after some key amendments to the original plan to join forces with the Australian Jockey Club (AJC).
A major point of contention was the perception the STC's Canterbury Racecourse could be sold after five years.
The new conditions state that a moratorium on the sale of Canterbury is extended to 10 years with no ability for the new board to deal with it until after that period.
"The Sydney Turf Club board has listened to its members and has acted to overcome their concerns in relation to the merger," Picken said.
"We believe that the decision to merge the two Sydney Clubs is in the best long term interests of STC and its members and in the best interests of thoroughbred racing in Sydney.
"Protections are now in place to safeguard the assets and identity of the Sydney Turf Club for its current members and for the future members of the merged club."
AJC members voted for the merger which will mean a cash injection of $150 million for upgrading Randwick Racecourse and $24 million for the STC's Rosehill.
The STC members' "no" vote was determined by a show of hands, estimated at 277 people.
The $150 million will be a non-repayable grant from Tabcorp in lieu of revenue from its Trackside computer horse racing game which is to be widely distributed in gambling outlets.
Another condition of the STC's agreement to the merger was that its showcase Golden Slipper festival would continue to be held at Rosehill.
Greene is expected to introduce legislation confirming the merger in the next couple of weeks.