Racing Victoria (RV) welcomes today’s announcement by the Victorian Government that it will make a significant investment into the development of new training infrastructure at the Cranbourne Training Centre and Pakenham Racecourse.
The Government has announced that it will contribute $17.5 million towards a range of first-class facilities at two of the state’s major south-east thoroughbred training centres.
RV and the Melbourne Racing Club (MRC) have committed a further $22.6 million to deliver the facilities which will benefit current and future trainers and allow the training centres to collectively accommodate up to 600 additional horses.
The $40.1 million project will deliver new and upgraded training tracks, stables and equine swimming pools, along with improvements to infrastructure accessing the training facilities.
The investment follows the Government’s announcement that training is to cease at Caulfield Racecourse by November 2023 to allow the Crown Land currently occupied for training and by racing stables to be converted into multi-purpose facilities for local community use.
In reaching their decision, the Government and Caulfield Racecourse Reserve Trust has committed to the continuation of thoroughbred racing at Caulfield Racecourse for at least the next 65 years. They have also allowed for the future development of Caulfield’s racing facilities, including the provision for a second racetrack.
RV Chief Executive, Giles Thompson, said, “We are pleased to receive the Government’s funding commitment which will allow an investment of $40 million to be made in training facilities at Cranbourne and Pakenham and to accommodate the transition of trainers from Caulfield to these locations.
"This will allow us to commence upgrades as soon as possible at Cranbourne and Pakenham which have been identified as the best training centres to accommodate trainers relocating from Caulfield due to their location south-east of Melbourne, their high-quality training environments and their ability to accommodate additional stables.
“RV, the MRC and Government are committed to ensuring that current and future trainers can access facilities at Cranbourne and Pakenham that are at least the equal of Caulfield.”
Thompson said that RV and the MRC have been aware of the long-held desire to open the Caulfield Racecourse Reserve to greater community use and have negotiated the best available outcome for the racing industry.
“With the recent introduction of the new Caulfield Racecourse Reserve Trust, the Government has sought to end the ongoing speculation about the future of training and all parties have accepted that it is time to provide certainty for trainers and the community,” Thompson explained.
“There will be a number of people within the industry that wished to retain training at Caulfield, however this was an inevitable outcome at some point given all the circumstances. That is why we have negotiated commitments from Government to support the affected trainers and to secure the long-term future of racing at the site.
“We are pleased that the long-term future of thoroughbred racing at Caulfield has been secured with a new 65-year lease. The new lease provides the industry with the opportunity for continued investment in racing infrastructure and facilities at Caulfield, including the provision for a second racetrack.
"Together with the MRC, we are committed to maintaining Caulfield as a world-class racecourse and will ensure that its training facilities remain at the current standard over the next five years.”
With plans to commence upgrades as soon as possible at Cranbourne and Pakenham, it is expected that the first wave of facilities will be ready for trainers to relocate into by late-2020 should they seek to leave Caulfield earlier than required.
An extensive consultation period will commence next month with Caulfield trainers to help each plan for their future training needs and the relocation of their businesses. This will include any discussions with trainers who may wish to relocate to a Victorian training centre other than Cranbourne or Pakenham.
Thoroughbred racing contributes $3.2 billion to the Victorian economy each year and provides the equivalent of 25,000 full-time jobs. Victoria conducts 557 race meetings annually, with 23 of those at Caulfield Racecourse.