Rosehill. STC members reject merger

Members of Sydney Turf Club have voted against a merger with Australian Jockey Club. STC chairman, Bill Picken, said he was disappointed the resolution which had been recommended by the board had been rejected. STC CEO, Michael Kenny, said despite news that a $174 million funding package would be paid to the merged club as a non-repayable interest-free grant and did not require Racing NSW to obtain loan funds from the market, members still felt the merger would not be in the best interests of the club. Some $24 million would have been committed to improvements at Rosehill Gardens. The board will consider defying its members to pursue a merger with the AJC.