QuoteGerman automotive brands Recaro and BBS have both filed for bankruptcy in the same week, showing times are tough even for well-known suppliers.

Recaro has filed for insolvency with the Local Court of Esslingen, following "significant financial difficulties due to extreme price increases in recent crisis years and the loss of a major contract".

QuoteBBS – the only wheel supplier for Formula One and another producer for new car manufacturers – also entered administration in Germany this week, with Motor1 reporting the firm filed for insolvency with the Rottweil Local Court.

Sorry, I lost that quote, but heres another. Google has a long list of similar stories.

https://www.autoexpress.co.uk/news/363925/recaro-folds-and-wheels-come-bbs-financial-trouble-strikes

I thought that this may be of interest.

https://www.msn.com/en-au/news/australia/how-two-perth-sisters-are-selling-off-the-largest-toy-car-collection-in-the-southern-hemisphere/vi-BB1qlpF7?ocid=msedgntp&pc=HCTS&cvid=a423bfd555f14a809125d2d10cd24de4&ei=52

I think that this news is rather ironic.

Tesla Cars are frequently purchased or used by green and left-wing political supporters including top level Green Party leaders.

Yet, every single one of them is ,collectively, financially contributing to the election campaign of the allegedly right-wing Donald Trump.

QuoteTech billionaire Elon Musk has pledged his support to former US President Donald Trump.

Mr Musk has pledged to donate to a super PAC that supports Donald Trump $US45 million a month, leading up to the election.

The tech billionaire had formally endorsed the former US President after an attempted assassination on Mr. Trump's life.

https://www.msn.com/en-au/news/other/elon-musk-pledges-45-million-donations-to-support-donald-trump/ar-BB1q6izP?ocid=BingNewsSerp

QuoteRace driver's bankruptcy led to 'medley' of drug abuse a former V8 Supercars driver and nightclub owner has been released from court on a suspended sentence for drug possession after a more serious trafficking charge was dropped.

Wayne Jason Wakefield, 53, pleaded guilty in the Brisbane Supreme Court on Tuesday to a string of charges relating to two police raids on his homes within a year starting in May 2020.
...
 sentenced Wakefield to 15 months' imprisonment to be immediately suspended for a period of 15 months.

Wakefield said he felt "good" as he left the court building.

https://www.brisbanetimes.com.au/national/queensland/race-drivers-bankruptcy-led-to-medley-of-drug-abuse-20240709-p5jsa7.html

There is a whole lot of speculation over the future of Adrian Newey.

He says he is tired and is having a break and a family holiday. Good on him.

I wonder if he could later turn up at Andretti, who need to build car from scratch plus they can spend up big because they are not yet under the salary cap.

It is great to see another Mustang competing in this class and winning both races.

George Miedecke is a proven very good driver but not up to Supercar standards (although better than some current Supercar drivers).

Young Ryland Gray seems to be the real deal and we will hear a lot more from him in the future.

Plaudits to Andrew Miedecke for importing this car.

 touringcarmasters.com.au is not working.

Have they a new site?

QuoteIn short: Klark and Brooke Quinn have taken over the Sara Lee factory on the NSW Central Coast.

Sara Lee went into voluntary administration last October, owing millions of dollars.

What's next? The new owners will look at the business model and consider how to secure the company's future.
The new owners of dessert manufacturer Sara Lee say they intend to stick around for the "long run".

Australians Klark and Brooke Quinn received the keys to the Lisarow factory on the New South Wales Central Coast on Monday.

https://www.abc.net.au/news/2024-02-13/new-sara-lee-owners-klark-brooke-quinn-tour-lisarow-factory/103441680

Historical financials show V8 Supercars owner got off to a shaky start.

The operator of the Supercars racing competition booked a $2.7m loss in its first 15 months of operations and was likely reliant on its owners tipping in more money to stay afloat, documents lodged with the corporate regulator show.

The 2022 financial accounts for Racing Australia Consolidated Enterprises (RACE) show that the organisation turned over $112.5m in the 15 months to the end of 2022, booking a $2.7m loss in the process.

The reporting period covered 15 months due to the creation of the company in September 2021, with the company then acquiring V8 Supercars Holdings and its subsidiaries.

RACE's current liabilities exceeded its current assets by $4.9m, with a current asset deficit a key indicator of financial distress.

The company flagged this in its financial statements, saying the directors, including former V8 champion Mark Skaife and former QSM Media boss Barclay Nettlefold, had a plan in place to ensure the company could continue to operate.

...

This creates a material uncertainty that may cast a significant doubt as to whether the group will continue as a going concern and therefore, whether it will settle its liabilities and commitments in the normal course of business.''

The organisation's main revenue source for the 15 month period was sponsorships, coming in at $34.7m, followed by broadcast revenue at $31.2m, with "other race related income" accounting for $17.1m.

Ticket income was $12.7m while corporate hospitality income was $9m.

The Australian reported in July last year that the RACE ownership consortium rejected a buyout offer at that time from European media and entertainment business FanTech.

It is understood that offer included buying out shareholders, taking on $45m in debt and the obligation to pay Supercars team owners about $17m annually calculated on a per-car basis.

The RACE board rejected the FanTech offer, and in a statement at the time, Mr Nettlefold said RACE "has received a number of unsolicited approaches", but did not comment directly on the FanTech offer.

RACE bought Supercars in November 2021 from Archer Capital, which had owned 60 per cent of the series for more than a decade, in a $58.1m transaction.

The 2022 financials show $42.3m in debt owed to Equity Trustees and $5.8m worth of "other facilities''.

It was rumoured in August this year that the billionaire Shahin brothers Sam and Yasser, who own The Bend racetrack in South Australia, were in talks to buy the Supercars competition, however Supercars said at the time the business had not been sold.

"Supercars has not been sold and is still owned by RACE,'' Supercars owner Racing Australia Consolidated Enterprises (RACE) said.

"If Supercars were to be sold or discussions of that nature were taking place, it would be communicated to fans by Supercars.''

The Shahins agreed to sell their OTR petrol and convenience business to Viva Energy for $1.15bn in a deal announced in April, with that deal still yet to be signed of by the Australian Competition and Consumer Commission.

Both Yasser and Sam Shahin are accomplished competitive drivers in their own right, and the family has invested well over $100m into the world class motorsport facilities at The Bend at Tailem Bend southeast of Adelaide. The Bend boasts the second longest permanent circuit in the world after Germany's Nurburgring, and has played host to events such as the Asian Le Mans series and Supercars itself.

https://www.theaustralian.com.au/business/companies/historical-financials-show-v8-supercars-owner-got-off-to-a-shaky-start/news-story/891e82b7e5ba00cb516efff7f6d19a54

very impressive.

QuoteA South Australian farmer has built a 60-kilometre circuit for off-road racing on his farm, attracting competitors from across the country to compete in an inaugural event.

Known for taking on big challenges, Ben McNamara turned a section of his property, located between Tumby Bay and Port Lincoln, into a 60-kilometre dirt circuit in just under a year.

Mr McNamara said he wanted to tick off-road racing off his bucket list and needed a circuit to practise on if he were to ever race on the Finke track in the Northern Territory.

https://www.abc.net.au/news/2023-04-20/jamalka-off-road-racing-hosted-by-eyre-peninsula-farmer/102240322

QuoteThe current record is held by the Cobra Jet 1400, which ran the quarter mile in 8.128 seconds at 276.76 km/h in June 2021 with Bob Tasca III at the wheel. The Super Cobra Jet 1800 was created with the aim of breaking this record easily.

Compared with the Cobra Jet 1400, the Super Cobra Jet 1800 is equipped with four PN-250-DZR inverters and two pairs of DS-250-115 dual-battery motors to produce 1,800 hp at the rear wheels. A Liberty transmission and a lighter battery system improve the car's efficiency, making it even faster.

Now that's an electric Mustang that I would like to see. A bit out of my price range, methinks.


https://www.msn.com/en-au/news/other/mustang-super-cobra-jet-1800-the-new-record-breaking-electric-car-is-an-1800-hp-monster/ss-AA19YN3S?ocid=msedgntp&cvid=ccce4c7f040c4fc1aae3a0b2d8e1782f&ei=30#image=3

QuoteAustralian Trans-Am is a category paying tribute to the great American Trans-Am Series of the late 60s and early 70s, catering for 2-door, 4-seat, rear wheel drive, V8 American Sedans built from 1963-1974. The ultimate American automobile showdown on Australia's best race tracks!

Run in Queensland with about 12 cars, the website has no information about the series going forward.

I wonder: Coul these cars be converted to historic classes or to TCM or will they end up just as local racers?

I know at least one car was converted to TCM and run through Peters Motorsport.

https://www.australiantransam.com.au/

 I am impressed with the expanse of Formula Ford competition, both oldies driving for fun and youngsters aiming higher and people who just enjoy competing at an affordable level.

To think that CAMS, as it was then, tried to downgrade the cars and effectively kill the series. To misquote "The Phantom of the Opera", FF never dies.

This series has led some drivers to Formula One and extensively to Supercars and TCR and F5000.


PS: I wonder what happened to the Formula Four cars that cost CAMS member so much money?

https://www.v8sleuth.com.au/familiar-names-feature-in-formula-ford-bathurst-field/

[moved from F1 thread.]

Quote
Mysterious Ferrari Formula 1 Car Spotted Again On Czech Highway
Jacob Oliva - Yesterday 9:48 pm

The driver risks getting banned from the road and tens of thousands of dollars in total fine.
Formula 1 is back in the Czech Republic, and no we're not talking about a Grand Prix schedule in the nation located in Central Europe – something that has never happened before.

We're talking about the infamous Formula 1 car that's being driven on public roads. A few years ago, a red Ferrari F1 car was seen coasting on the D4 highway between Příbram and Dobříš.

The Czech police asked for help then to track down the driver, which they did. The 45-year-old suspect escaped the penalties since he wasn't clearly identified, thanks to the helmet he was wearing. The penalties would have involved getting banned from using the thoroughfare for up to one year, plus tens of thousands of dollars in total fines.

Those penalties appear to have no effect on the offender as he's back on the road again. This time, he was captured on an up-close video by one of the readers of iDNES, embedded atop this page.

https://www.msn.com/en-au/news/other/mysterious-ferrari-formula-1-car-spotted-again-on-czech-highway/ar-AA10Eesy?ocid=msedgdhp&pc=U531&cvid=8620bdaa90de440f95b7d0cece8d74b0

However, learned observers suggest that the car is actually a 2008 GP2 car stickered as an F1 Ferrari. It would be powered by a V8 and be a lot less technical to maintain. Apparently he was driving at normal road speeds.

Police are hunting the driver.

Quote

Quote from: stevo qld on July 25, 2022, 11:34:31 AM

Quote from: Tommo on July 12, 2022, 02:26:55 AM
Do we think that Piastri will actually get a seat? A few weeks ago there was noise about Williams but that has gone quiet. Also in F2 Logan Sargeant is going well and is a Williams academy member. He is also American and these days sadly the series is very much more American focused.

Vettel's seat might become available, or better still Hamiltons.

I would not be surprised if  HAAS is sold, in part or full, to Andretti.

Well there is one prophecy fulfilled. Vettel's seat is now available. Well done Sebastian.

https://www.speedcafe.com/2022/07/28/vettel-announces-formula-1-retirement/

QuoteSebastian Vettel has announced he will retire from Formula 1 at the end of the 2022 season.

The German currently drives for Aston Martin, but has had stints at Ferrari, BMW Sauber, and Toro Rosso.

The 35-year-old enjoyed the bulk of his success with Red Bull, winning four world championships from 2010.

"I have had the privilege of working with many fantastic people in Formula 1 over the past 15 years – there are far too many to mention and thank," he said.

"Over the past two years I have been an Aston Martin Aramco Cognizant Formula 1 Team driver – and, although our results have not been as good as we had hoped, it is very clear to me that everything is being put together that a team needs to race at the very highest level for years to come.

"I have really enjoyed working with such a great bunch of people.

"Everyone – Lawrence [Stroll], Lance [Stroll], Martin [Whitmarsh], Mike [Krack], the senior managers, the engineers, the mechanics and the rest of the team – is ambitious, capable, expert, committed and friendly, and I wish them all well.

"I hope that the work I did last year and am continuing to do this year will be helpful in the development of a team that will win in the future, and I will work as hard as I can between now and the end of the year with that goal in mind, giving as always my best in the last 10 races.

"The decision to retire has been a difficult one for me to take, and I have spent a lot of time thinking about it; at the end of the year I want to take some more time to reflect on what I will focus on next; it is very clear to me that, being a father, I want to spend more time with my family.

"But today is not about saying goodbye. Rather, it is about saying thank you – to everyone – not least to the fans, without whose passionate support Formula 1 could not exist."

Alongside his four world titles, Vettel has to date recorded 53 wins, 122 podiums, and 57 pole positions.

"Supercars runs into financial issues after rejecting takeover bid from European investment consortium
Investors in the Supercars motor racing series are hoping their funds do not go up in smoke.
...
EXCLUSIVE
JOHN STENSHOLT
EDITOR, THE LIST
@JohnStensholt

2 HOURS AGO JULY 20, 2022
NO COMMENTS
The privately owned Supercars series recently rejected a takeover offer that would have delivered shareholders a 20 per cent return in only nine months, and a board member has since had to tip in $10m to shore up its short-term finances.

Sources have told The Australian that Supercars, the popular motor racing circuit that includes the iconic annual Bathurst 1000 race each October, also needs to raise $10-12m in fresh capital from existing or new investors by the end of the year.

The offer by European media and entertainment business FanTech included buying out shareholders, taking on $45m debt and the obligation to pay Supercars team owners about $17m annually calculated on a per car basis.

Supercars is owned by Racing Australia Consolidated Enterprises (RACE), a consortium led by former QSM Media boss and now Supercars chairman Barclay Nettlefold and also including the Domazet family, the Canberra-based owners of hotel and property business Doma Group, Melbourne advisory firm Henslow and other motorsports series owners.

The RACE board recently rejected the FanTech offer that sources say was worth 20 per cent more of the value of the equity component of the transaction used to acquire Supercars from private equity firm Archer Capital last year.

In a statement, Mr Nettlefold told The Australian that RACE "has received a number of unsolicited approaches," but did not comment directly on the FanTech offer.

READ MORE:Supercars value reverses $200m in sale|V8 Supercars owners gear up for investment
"Whilst the Board owes a duty to its shareholders to consider any approaches, none have progressed. RACE acquired the business on the basis of a long-term investment in the sport and remains committed to being long-term owners," he said.

The FanTech offer would have united several racing series given it would have also included the circuits owned by Australian Racing Group (ARG), such as SpeedSeries, TCR Australia, Touring Car Masters and GT World Challenge Australia.

RACE bought Supercars last November from Archer Capital, which had owned 60 per cent of the series for more than a decade, in a $70m equity and debt transaction.

There is a $25m equity component to the valuation, while Supercars also has $45m in debt used to finance the acquisition using a six-year 6.25 per cent secured note issued by FIIG Debt Capital Markets last year.

Supercars has at least 13 races on its schedule this year, including Bathurst in early October and the popular Gold Coast 500 later that month.

...
While Supercars achieves strong television ratings on Foxtel and Seven Network, the circuit's owners are understood to have had some short-term funding issues, which has led to the Domazet family providing a $10m loan to help with cashflow.

Mr Nettlefold said RACE "is a privately held company and does not comment on its financing" but added "Supercars is a profitable business and RACE (and its shareholders) are long-term investors in the sport."

"In addition, RACE sees substantial upside in the sport with the continued investment in the business, the people, the teams and the sport," Mr Nettlefold said.

"We are pleased to say that since acquiring Supercars, all key indicators of the business are encouraging, including ticket sales, hospitality and sponsorship, which are all tracking well ahead of pre-Covid numbers.

Jure Domazet, a former member of The List – Australia's Richest 250 with his father Ivan, is the managing director of the family business Doma, which has commercial and residential property projects in Canberra and Newcastle and owns hotels such as Little National Sydney and Hotel Realm in Canberra.

An additional and fresh capital raising of $10-12m from investors could dilute existing shareholders.

ARG is also a Supercars shareholder and is owned by Brian Boyd and John McMellan from Payce Property and Payce Security, along with well-known racing identities Garry and Barry ­Rogers.

FanTech is led by Belgian Wim Ponnet, the former chief strategy and commercial officer of global television and distribution giant EndemolShine Group, and its executive ranks includes ex-rugby union administrator David Gibson.

The FanTech offer was received by the Supercars board in recent months, and it is understood the group was allowed to undertake due diligence before a firm offer was lobbed.

But the bid was rejected, and at least one or potentially multiple shareholders are now disenchanted with management and the Supercars board and could walk away from motorsport.

The shareholders' stake could be bought by other existing investors, or be offered to an external party by Henslow.

Supercars has been hit by Covid disruptions in recent years, but documents seen by The Australian show that the series recorded "EBITDA before appearance and grid fees" of $23.8m from $118m revenue in 2019, the last completed year of racing that was not interrupted by the pandemic.

An information memorandum circulated by Henslow at the time of the deal last November had a range of financial projections, ranging from a low base scenario of earnings before interest and tax of $7.4m from revenue of $110m, and after $17m was distributed to teams, to a high of $12.3m EBIT and revenue of $124m with distributions of almost $20m.

The $45m debt used to buy Supercars last year was raised on the bond market by fixed income firm FIIG, which said that "acquisition funding is unusual in bond markets" in a statement about the transaction on FIIG's website.

JOHN STENSHOLTEDITOR, THE LIST
John Stensholt joined The Australian in July 2018. He writes about Australia's most successful and wealthy entrepreneurs, and the business of sport. Previously John worked at The Australian Financial Review an... Read more

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https://www.theaustralian.com.au/business/supercars-runs-into-financial-issues-after-rejecting-takeover-bid-from-european-investment-consortium/news-story/b7798423cc98773ab4a25b85904c3155


I don't know how true this is. Media posted approx 6 pm Wed 20/07/2022

The new rules have been posted.

QuoteSuper2 will be an all-in of the Holden ZB Commodore, Gen2-spec Ford Mustang, VF Commodore, FGX Falcon, and Nissan Altima; the Mercedes E63 AMG and Volvo S60 also remain eligible, not that any have ever been seen in the series.

Furthermore, the Super3 class will remain, for Project Blueprint-spec VE Commodores and FG Falcons.

QuoteConsistent with Burgess's comments, Super2 teams faced two key issues with respect to a hard changeover to Gen2.

Firstly, the market is tight.

Speedcafe.com understands that many cars which are currently on the race track in VCS (code for the Supercars Championship) have already been sold to collectors and are in fact being leased back from their new owners.

A second reason, perhaps related to the first, is that the asking price for Gen2 cars is believed to still be in the region of several hundred thousand dollars each, a figure which would stretch Super2 teams, especially those which field multiple cars.

This will please 2022 Super 2 teams as they do not need to spend big bucks on an upgrade to 2022 Super 1 cars.

But the current Super 1 cars are superior to the previous Super 1 cars (current Super 2) and some teams will be worried about some sort of performance equalisation.

https://www.speedcafe.com/2022/07/04/all-cotf-models-to-compete-for-2023-super2-series-title/

It seems to me that S5000 only continues with a considerable financial support from Barry Rogers and GRM.

Will Motorsport Australia continue to award the Gold Star to races with less than 10 starters?

After the poor numerical showing at the last round, we now have the news that the season is to be cut short, although a reason has been given.

QuoteThe mid-year break after Darwin will allow for teams to plan ahead for both the Tasman Series and the 2023 S5000 Australian Drivers' Championship, which is in the early stages of calendar planning.

https://autoaction.com.au/2022/06/02/s5000-championship-to-end-in-darwin

GRM directly support three cars (out of 8 ) and, I suspect, have been doing very cheap lease deals and providing support for some of the relatively inexperienced drivers and overseas "Stars".

If, as Barry Rogers suggested, there is a possibility of selling the entire fleet of cars (17 or 18) and spares plus intellectual property to an overseas promoter, then poor utilisation of the cars and poor financial returns may result in a sale soon. One report suggested that an American Promoter is interested in buying.

I would suspect that GRM would keep one car back for their private museum.

[quote]Motorsport 2022: Scott McLaughlin says Supercars series 'full of backstabbing' in epic spray

By JAMES PHELPS
NEWS CORP AUSTRALIA SPORTS NEWSROOM
AN HOUR AGO MAY 25, 2022

Scott McLaughlin has slammed his former Supercars rivals as backstabbers in a shock spray at the sport that made him a star.

Taking aim at the series that paved the way for him to move to the US and become an Indy Car driver, the former V8 champion slammed the likes of Shane van Gisbergen and Chaz Mostert by claiming his former sport was full of "crap" and "bull****".

McLaughlin also ruled out returning to race the Bathurst 1000 while he is pursuing his Indy car career in a move that will spare him a pit-lane showdown with the former rivals he accused of being backstabbers.

"I come from a series (Supercars) that was full of backstabbing," McLaughlin said in a US interview.

"I just love how pure [IndyCar] is.

"You can have a blow-up on the racetrack, but I feel like you can all have a beer together after.

McLaughlin, who will contest this weekend's Indianapolis 500, explained why he withdrew from last year's Bathurst 1000 after being granted a wildcard to return for a one-off crack at Mount Panorama glory.

"I think it was a decision that didn't come lightly," McLaughlin said.

"It was just something that I needed to put my best foot forward here. For me I have done what I needed to achieve in Australia. I love that race and for sure I would have love to have been back there if the time was right but what I have had to unlearn and put in the Indy Car basket to help me in IndyCar, it has taken me so long to get rid of it."

In a statement that may explain why he so boldly took aim at his former sport by claiming it was full of backstabbing, McLaughlin all but ruled out a return to Supercars.

"I want to make sure I am 100 per cent in the game over here," McLaughlin said.

"There is where I want to build my future and hopefully, I will retire here. It is a lot and I ended up making sure I am 100 per cent here. I am all in here.

"I am not going to say never but right now in this part of my career in America the best thing for me is to focus on what I am doing here."

McLaughlin's dream of winning the Indy 500 was dealt a blow last week when he qualified back in 26th place.

"I am going to experience a proper Indy 500," McLaughlin said.

"It is going to be one of the biggest crowds they have ever had. I am really excited for that and what is ahead."

McLaughlin won three Supercars titles in a row before moving to the US to race for American giant Penske Racing in 2021.

Share this article[/quote]

https://www.theaustralian.com.au/sport/motorsport/motorsport-2022-scott-mclaughlin-says-supercars-series-full-of-backstabbing-in-epic-spray/news-story/47fb33d83d5a4f61d491e59e27d381df

Quoted in full due to paywall.

QuoteNew suburb flagged as Melbourne Racing Club reveals Sandown redevelopment

JARED LYNCH
REPORTER
@jaredm_lynch

12:17PM MARCH 24, 2022


Melbourne Racing Club has proposed to build a new suburb – with a population almost the size of Wangaratta – on its ageing Sandown Race Course under a $3.5bn plan.

The racing club has submitted its long-anticipated application to rezone Sandown Racecourse, located 25 kilometres southeast of Melbourne's CBD, for residential use to Dandenong Council.

The track – Melbourne's only metropolitan racecourse built in the 20th century and which includes a motor raceway – is popular with trainers, but not with crowds, with the facility burning a $5m hole in Melbourne Racing Club's balance sheet each year.

Club chief executive Josh Blanksby is yet to say if racing will continue at the track under the redevelopment, which could include a combination of scaled-down racing, housing and retail.

But if the 112 hectare site is fully redeveloped, it would cost $3.5bn over 20 years and include 7500 homes – including affordable housing – for 16,000 people. It would also feature 12,000 square metres of retail space and 8000 square metres of non-retail commercial use, creating 595 ongoing jobs.

Meanwhile, 3.5 hectares has been earmarked for a school and community centre.

Melbourne Racing Club had been sweating on submitting the proposal but after the Andrews government backflipped on the windfall tax, it gave it the confidence to proceed.

"It was good the government recognised that we have been going through this process – we flagged our interest in rezoning this land back in 2015 – so they recognised that it wasn't supposed to be retrospective tax," Mr Blanksby said.

But development of existing green wedges, like golf courses and other sporting grounds, is controversial, and in the past 20 years has ignited a gold rush of developers. More than half a dozen clubs have been persuaded to make way for housing estates, with Doncaster's Eastern Golf Club, which covers 47 hectares, sold for $100m in 2011.

While attracting some community opposition, city planners say developing suburban infill sites, such as golf courses and old factories which are close to existing infrastructure, will be vital to limiting Melbourne's urban sprawl as the population soars from 5 million to around 8 million by 2050.

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For Sandown, Mr Blanksby said the project will require approvals and consultation from Dandenong Council, Melbourne Racing Club Members and Racing Victoria. If fully redeveloped, at least 14 per cent of the racecourse will be kept as open space.

While he said it was too early to speculate on what the site might be worth, the proceeds will be used to help fund a $300m redevelop its principal racecourse at Caulfield, located nine kilometres from Melbourne's CBD.

Also weighing on the club is what is fast becoming a crowded sports wagering market, which has traditionally been the main source of income for Sandown.

"That's one of the things that racing has always enjoyed in its history, this sort of monopoly on betting and that's shifting," Mr Blanksby said.

"And so racing needs to make sure it's looking after itself and my view is that the Melbourne Racing Club is being quite proactive is doing this at a time when we are financially strong, rather than doing a reactive time when it's too late and you're rushing to do things,"

"I'd rather be in a position that we know what we can do in the land holdings and we can give options on that and then people can make educated decisions."

To this end, the redevelopment is similar to the consolidation of AFL grounds to drive more investment at stadiums closer to the CBD. Waverley Park, which was built in the 1960s – at a similar time to Sandown and location, with a capacity of 72,000 – was designed to cater for what was expected to become the demographic centre of Melbourne as residents rushed to the outer suburbs mid last century.

But the CBD became popular again, and with new housing developments on the opposite side of the city, the demographic centre shifted closer to the centre of Melbourne again, leading to AFL to sell Waverley Park to Mirvac in 2000 to create a mini-suburb and fund the construction of a new football ground at Docklands, now called Marvel Stadium.

Waverley Park has kept its main grandstand and field, which is used as a training ground by the Hawthorn Football Club, with houses taking up the rest of the 85 hectare site.

"In a post Covid world, everybody should be looking at all their cost base and saying okay, well, is this the most efficient way to run the sport?" Mr Blanksby said.

"Other sports, AFL predominantly and cricket, have moved to less grounds and those grounds are a lot better.

"We think the investment in Caulfield is really important ... and you can't keep all these racetracks in pristine condition. It's just an inefficient model."

JARED LYNCHREPORTER
Jared Lynch is a business reporter with a career spanning 15 years across national publications. Jared is based in Melbourne and writes on agribusiness, healthcare and gaming. He also has extensive experience i... Read more

I qupted the whole article as it may be behind a paywall.

https://www.theaustralian.com.au/business/new-suburb-flagged-as-melbourne-racing-club-reveals-sandown-redevelopment/news-story/e65d010c570e5c7d0e0d2c2ced99c643