A faction of the Sydney Turf Club has failed in its bid to remove four directors and halt the merger with the Australian Jockey Club.
At an extraordinary general meeting on Monday night, 70 per cent of the 329 members present voted against the resolution.
STC directors John Holloway, Wilf Mula, Michael Crismale and Max Whitby will retain their positions on the board until the club merges with the AJC.
Under the regulations of the Sydney Turf Club Act 1943, the board was required to convene an EGM after receiving a requisition for the meeting from five per cent of its membership base.
STC chairman Bill Picken said the merger, which comes with a $174 million cash injection for the new club, could now go ahead.
“I am relieved that common sense has prevailed in this situation,” Picken said.
“It would have been a sad day for this great club had a small percentage of its members succeeded in prematurely ending the tenure of some of the finest stalwarts in racing.
“We can now focus our energies on working in partnership with the AJC to create the greatest racing club in Australia.”
Under the terms of the merger, $150 million will be spent on a major renovation of facilities at Randwick Racecourse while $24 million will be spent to upgrade the access routes to Rosehill.
by Buford Balony