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The architect of the failed plan to sell off Rosehill Racecourse for a mini-city of 25,000 homes has resigned early as chairman of the Australian Turf Club, declaring in a parting shot that the abandoned $5 billion deal was a “lost opportunity”.
Peter McGauran was appointed to the ATC board in 2022 and has resigned before his term expires in January 2026, but said he would be judged as being on the right side of history for pursuing the controversial proposal.
Peter McGauran has resigned as chairman of the Australian Turf Club. Credit: Sam Mooy
McGauran, a Howard-era Nationals minister who has had various roles in the racing industry, led the pro-Rosehill sale faction on the ATC board despite staunch opposition. His resignation comes just over a month after members voted 56.1 per cent to 43.9 per cent to scrap the plan.
In a statement on Wednesday evening, McGauran said his decision was made while “aware of the challenges for the ATC ahead”, and his belief that a new chairman was needed to guide “new initiatives” for the club.
“I remain convinced the potential sale of Rosehill Gardens was a lost opportunity for the club and the wider racing industry,” he said.
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“It was a fully transparent and vigorous debate, and I am grateful to the 44 per cent of ATC members who voted in favour of the proposal. I believe history will judge the decision to pursue the vision as having been the right one.”
The plan, which would have cost the state government $5 billion, was meant to be a major part of Premier Chris Minns’ solution to Sydney’s housing woes.
Minns said on Wednesday he would have “loved” McGauran to stay on as chairman, and celebrated the man as a “gentleman” in the face of the tough public debate.
“History will look back on Peter McGauran as someone who wasn’t afraid to take bold ideas to the table,” Minns said.
“Peter had a big vision for Sydney and Rosehill and I’ll always respect him for that.”
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Despite the backlash, McGauran had argued that with a downturn in crowds at Rosehill, the cash from a sale would allow the ATC to upgrade Warwick Farm and Randwick racecourses and secure a stronger way forward for the industry. Sweeteners such as free memberships and $1000 food and drink vouchers, described by McGauran as a “loyalty program”, were offered to members for five years.
“I believe that Australia’s racing is quickly becoming a niche sport, and this missed opportunity will further accelerate that decline,” McGauran said immediately after the vote in May.
McGauran resisted calls to resign at the time, especially from maverick MP and ATC member Mark Latham, who said the chairman needed to go after his “signature project” failed. Latham is on a 12-month good behaviour bond after an outburst at Rosehill earlier this year.
In listing his achievements in the job, McGauran said he was proud the club was able to eliminate a $6.9 billion deficit and introduce later starting times for early morning training.
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