Turffontein Racecourse is to be transformed into a premier night-racing venue, Phumelela Gaming and Leisure and The Racing Association Turffontein Racecourse announced on Tuesday.
The racecourse will be the beneficiary of a R40-million settlement to be paid by the new owners of Newmarket Racecourse to terminate Phumelela’s use agreement at the racecourse.
”The money will see Turffontein become a luxurious racing venue with about 70 weekend and night race meetings being held there annually. Additional race meetings may also be held at Randjesfontein, creating new marketing opportunities for horseracing in the north of Johannesburg,” the statement said.
Major races run at Turffontein Racecourse include the R3-million Gommagomma Challenge, Africa’s richest race; the R1,5-million Steinhoff International Summer Cup; and the R1-million SA Classic and SA Derby, Africa’s richest events for three-year-olds.
Phumelela chief executive Jim Tennant said: ”The R40-million creates exciting opportunities at Turffontein, which is wholly owned by Phumelela. The money will be injected into facilities and the racing surfaces, as well as installing the floodlights that will enable us to introduce night racing at the venue. And, of course, the revitalisation of Turffontein is consistent with the resurgence of the Jo’burg CBD.”
Turffontein is suited to night racing because of its combination of private boxes and numerous trackside venues, Tennant added.
”Both the standside and inside tracks at Turffontein will be flood-lit. Other elements of the revamp being evaluated include relocating the parade ring, refurbishing existing trackside facilities and establishing a sports-bar-type facility targeting a younger crowd,” the statement added.
The reconstruction of Turffontein into a night-racing venue will begin ”virtually immediately” and it is expected that the first race meeting there under floodlights should take place in October 2007.
”It was not our intention for racing to stop at Newmarket,” said Tennant. ”In fact, racing was always supposed to be an integral part of Newmarket’s proposed development, which we believed would benefit the sport at a marketing and business level. We even considered becoming an equity partner in the development.
”But the scope and nature of the planned development changed, and as time went on, it became increasingly obvious that our vision for racing at the venue was becoming incompatible with that of the developer.
”In addition, racing at Newmarket was likely to be severely compromised with disruptions and probable cancellations during the construction phase, which will last at least two years. And there was the uncertainty as to whether the development would be conducive to the racing experience once completed.
”Negotiations took place over a lengthy period of time and in consultation with the racing association, we did consider enforcing the use agreement because we were loath to lose another racecourse in Gauteng.
After considering every option, Phumelela’s management and board of directors decided to accept the developers’ cash offer to terminate the use agreement with effect from January 31 next year, said Tennant.
From February next year, additional race meetings will be programmed at Turffontein, the Vaal and possibly Randjesfontein to accommodate the closure of Newmarket. — I-Net Bridge