Overview

• The governing body served the Australian Turf Club with a show‑cause notice on Friday over financial and governance concerns and warned it may replace the board with an administrator.
• ATC is reported to owe about $145 million to Racing NSW and $30 million to the Commonwealth Bank due in October 2026, and Racing NSW says the club lacks capacity to service the bank loan.
• The action follows a tumultuous week in which CEO Matt Galanos was sacked while on sick leave and Steve McMahon was installed as interim chief executive.
• Directors Ben Bayot and Natalie Hewson resigned after the CEO’s removal, leaving four directors on the board and a vacant chair following Peter McGauran’s July departure.
• Trainers have pushed back on planned increases to stable rents, track and acceptance fees and barrier trial charges from October 1, flagging public actions if the hikes proceed without further consultation.