The embattled sport of harness racing could make a spectacular return to Moonee Valley as part of a multimillion-dollar redevelopment of the racecourse that hosts the Cox Plate.
Harness fans farewelled Moonee Valley in February 2010 when the sport staged its last race at the circuit and relocated to Melton.
Moonee Valley is expected to be closed after next year’s Cox Plater for a major redevelopment.Credit: Getty Images
But two sources speaking on the condition of anonymity because the talks were confidential said informal discussions had been held between Harness Racing Victoria and Moonee Valley Racing Club about bringing the sport back to the inside of the gallops track.
Moonee Valley Racecourse is expected to be closed for 21 months after next year’s Cox Plate as the property undergoes major on-site surgery.
The unique amphitheatre circuit will be ripped up and reshaped, an ageing grandstand precinct will be demolished to make way for apartments, and a new grandstand will be built on the north side of the course along a new 317-metre home straight.
The race club also ran an expression of interest process earlier this year to uncover new ways to utilise the infield space. It is currently used for race day parking.
Several sporting organisations – including the AFL and golf driving range companies – all lodged submissions. The AFL has conducted several site visits to the track.
But the sources said the possibility of building a new harness racing circuit inside the racecourse has gained traction in recent weeks.
Racing Minister Anthony Carbines.Credit: Simon Schluter
Moonee Valley Racing Club declined to comment. Harness Racing Victoria was contacted for comment.
When asked if he would support the proposal, Racing Minister Anthony Carbines said: “The government will support anything that continues to grow harness racing and secure its long-term future.”
He said there had been some “informal conversations”, but it was “really a matter for HRV and Mooney Valley committees to determine what proposals they want to bring to government, and any announcements they want to make”.
“There’s obviously a lot of discussion about what they [Moonee Valley] may choose to do on the infield,” Carbines said.
“We’re always open to proposals from the Valley. They’re doing a great job, and we have a lot of discussions, but there’s no formal proposals to us at this point.”
Moonee Valley is still tinkering with final designs for its new grandstand, which would form part of a total project cost between $200 million and $250 million. One of the discussions revolves around whether to incorporate a hotel.
Carbines said the government had not been asked for any financial support for the Moonee Valley redevelopment, which will feature 2000 new dwellings around the racetrack by 2037.
“We’ve had many conversations, though, on the progress of the development and particularly any work that we could do,” he said.
“I’m always open to discussions, but that redevelopment is going from strength to strength. They’re doing very well.”
Moonee Valley Racing Club is self-funding its renovations and has an ongoing residential development agreement with Hamton/Hostplus and ISPT.
The sport of harness racing in Victoria has been in financial freefall for several years.
Harness Racing Victoria has been made an offer for land adjacent to Melton Entertainment Park.
The sport’s board came under fire from stakeholders in August when it was discovered the state government had asked the board to sign over its 93-hectare Melton land asset, excluding the track, in exchange for wiping out the sport’s suffocating debt.
This debt included the $42 million HRV had borrowed to buy and build the Melton Entertainment Park complex in 2009, as well as $40 million borrowed from the government to keep the sport afloat.
Sources said any potential move back to Moonee Valley would need to be bankrolled by a sale of the Melton land – an outcome that would clear the site for housing.
A commercial developer has already made a $90 million offer for a third of the 93-hectare Melton land.
“Anything at Melton is really a matter for the Department of Transport and Planning to make determinations about whatever happens to the land,” Carbines said.
“But we don’t want to get ahead of ourselves. Nothing may come to pass.”
HRV announced a $24 million loss for the 2024 financial year and, in a bid to pull back millions in savings across the next 12 months, chief executive Matt Isaacs announced a raft of unpopular cuts to prizemoney and breeder bonus schemes.
“People should rest assured when it’s generating over $600 million a year in economic activity, [and] 4000 jobs, we’re very determined to continue our support for Harness Racing Victoria,” Carbines said.
“But there’s no doubt it has to live within its means. That’s why we’ve done significant work around restructuring. That’s why we’ve done a lot of work in clearing their debt. That’s why there’s still financial contributions being made from the government.
“You couldn’t keep your head in the sand. We needed to take some action, and we’ve done that.”
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