04 July 2008

Independent Board Key To Racing’s Future says Owners

The NSW Racehorse Owners Association says a truly independent RacingNSW board where business skills are the focus will ensure the industry prospers into the future.

“We have waited several years for a new structure and now it is time for the industry to unite and meet the challenges racing is now facing,” says Secretary Michael Yates.

“No one group should dominate and the job of all stakeholders is to make sure we get the right skill set on the board,” he said.

Under reforms which have passed the NSW Parliament recently all the major stakeholders will sit on a selection panel for the new five-member board.

The stakeholders are the Australian Jockey Club, Sydney Turf Club, Provincial Racing, Country Racing, Trainers, Jockeys, Owners, Breeders and Unions NSW.

“It is important that we have a wide cross-section of representation on the new board, but more importantly we need people with experience in running major business operations,” he said.

“There has been speculation in the industry about tickets and deals but that will only cause conflict and division and destroy the credibility of the board before it even embarks on its important role to guide racing into the future.”

An independent recruitment consultant will soon be appointed by the Government and the NSW Racing Minister Graeme West will appoint a non-voting probity auditor to review the process.

“As with any good recruitment process we as an industry must encourage as many people as possible to apply,” Mr Yates said.

“Any block voting is not in the interests of racing or the spirit of the recruitment process.”

“The great thing about racing is that it is made of big and small players.”

To be recommended for the Board, any candidate will require the support of six of the nine stakeholders on the recruitment panel.

Mr Yates said the new Board should include people who may not be active as senior administrators in racing, but have an interest in racing and have excelled in business.

“We don’t believe that a person who makes their living out of racing should be on the new board.

“It is impossible for that person, not matter how careful they are, to separate their interests and be truly independent.”

“In our view it is a clear conflict of interest, nor will it promote the perception the new board is acting in the best interests of all stakeholders.”

Further information:
Michael Yates,
Secretary NSW Racehorse Owners Association.
(PH. 0417-105894)