Stuck together on a boat for three hours for The Everest barrier draw on Sydney Harbour, amid the glitz and glamour, it was a case of life jackets or flak jackets for Sydney’s warring racing officials.
On one table at the front sat Racing NSW chief executive Peter V’landys and guests, including National Rugby League CEO Andrew Abdo. On another were members of the board of racing’s wealthy controlling body. Close by were directors and executives of the Australian Turf Club, the operator of Sydney’s four metropolitan racetracks, including Royal Randwick, the venue for Saturday’s sold-out running of the world’s richest race on turf.
Peter V’landys launched The Everest in 2017 to take on Melbourne’s spring carnival.Credit: Stephen Kiprillis
The atmosphere at the on-water function on Tuesday night was described as “cordial” amid a tense lead-up to Sydney’s biggest race day in which Racing NSW has threatened to appoint an administrator to the turf club, taking aim at its financial management, commercial acumen and corporate governance.
The extraordinary action and its timing have gone down like a beaten favourite among many within the $3.3 billion industry, cast variously by critics as revenge against club directors who opposed the $5 billion sale of Rosehill Gardens for housing development, a ploy to install a compliant board and a simple power play.
Those assertions are dismissed by V’landys, who says Racing NSW was forced to put the club on notice when alarm bells were raised about its outlook and practices.
