Acknowledged cash loss of $40 mil likely to blow out to $80. Discovery on major court case with construction company not looking good. Case in March next year.
Tasman Man, M G was given info about the club well before the members in the past so he could publish it in the herald. What’s different now? The news is bad!
No straight out guess but an estimate of the extra costs to complete building 1, interest costs of very delayed completion dates, numerous disputes still not settled, money needed to maintain high stakes and money needed to service and hopefully eliminate various mortgages on the clubs properties.
In 2015 the Board famously said that they were not interested in a joint-venture property development as they would make more by developing the project themselves. Unfortunately they didn't have the expertise too do so. May be heading towards a cash loss of $50 million plus the land value. Lets wait and see.
If there’s no vet on the show I wonder if it was possible to find one who was truely objective. They all take the same view as their collective masters, HRNZ.
Two things Tim. How are the new stakes been funded, even allowing for less races, and if the proverbial hits the fan re the buildings, what happens next?
Are the Board playing the long game or looking for short term glory?
Secondly, now that you're back in the tent ....
Chevy I understand the new construction company what is completing the stalled first stage couldn’t agree a price with the ATC and are now working for ATC on a day to day to day basis. The ATC is now the running the project. This method is going to cost the club big time.
Just seems incredible that most harness people can see the problems in the handicapping system yet the morons running HRNZ won't recognise the issue and change it. Do they live in a different world in ChCh?
A city contact in Melbourne tells me that the cops have 7 months of hidden filming from his stables and have had an undercover cop working in one of his stables for the same period. Won’t say more about the alleged issues as per the sites rules I can’t proof them.
Interesting that The Fixer had to pull out and go 3 wide as the leading A S horse didn’t look like leaving the fence turning for home. I dare say that if the race was in NZ the leader would have drifted out. Not tried in Australia as the stipes there wouldn’t have put up with it. Different story here with NZs hopeless stipes .