Clubs merge
PA Palmerston North
The Ashhurst-Pohan-gina Racing Club has agreed to merge with the Manawatu Racing Club after the move was approved by Manawatu members this week. The Manawatu president, Mr Herrick Perry, told members the Ashhurst club’s assets had a book value of $142,000 which included a modest 1984 Government valuation of the land at $109,000. He said the AshhurstPohangina club was faced with two main options, to sell their property, the proceeds and continue racing in its own name inevitably eroding its cash resources or to seek amalgamation with the Manawatu Racing Club and retain the land for the racing industry.
The Ashhurst club noted the increasing difficulty faced by trainers in finding properties from which to operate economically, and the current trend of overseas of locating trainers on established racecourse properties.
The course will be occupied by four trainers and leases will be arranged when drainage work is completed.
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Bibliographic details
Press, 30 August 1986, Page 32
Word Count
153Clubs merge Press, 30 August 1986, Page 32
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