Auckland Trotting Club | Members September Update

ATC September Update
13th September 2024

Dear Members,

This is a quick update on a couple of matters, one where the rumour mill is louder than Arran White’s race commentary.

The ATC has a number of psychics within our membership, for reasons unknown they are not able to predict race winners, but they are experts at predicting the club’s future.

At a recent séance, it was revealed that Mt Hope, the purchaser of the Franklin Park training centre, would not be settling on time and that this would be the death of racing in the north.

There appears to be a few parts missing to this.

If the purchaser decides to walk away from the deal, then the club keeps the $10,000,000 deposit and puts the property back on the market with the benefit of the zoning having been changed.

From sources outside of the séance, (my desk), we were advised earlier this week by the solicitor acting for the purchaser, Mt Hope.

The current situation in China was making the movement of funds out of China difficult and they were seeking alternative financing should this continue.

At no time was there any indication that Mt Hope would not be settling on time, nor did they ask for any extensions of the settlement date.

We can only work with the information that is provided to us by reliable sources. It might be that Mt Hope need to revise the terms of the deal or that they must walk away but at this point and acting in the best interests of our members we are preferring to deal with the facts in front of us.

We are proceeding in accordance with the purchase agreement and as such last week a draft of the lease back of the training centre was sent to Mt Hope’s solicitor for review so that its detail could be finalized pre settlement.

A meeting is being arranged with representatives from Mt Hope towards the end of this month following their return from overseas to work through steps to settlement. No doubt Mt Hope will provide us with an update on the situation in China and their funding arrangements at that meeting.

Best Regards,
Jamie Mackinnon | ATC Chairman

Republished with permission from the Auckland Trotting Club