Over the past six months, we have been focused on finalising the scope of works and budget for the racecourse and associated racing...

May 2025: From the CEO's desk - Redevelopment update

I am writing to provide the latest update on the Moonee Valley Racing Club redevelopment, which remains on schedule to commence on 1 November, following the running of the 2025 Ladbrokes Cox Plate Carnival.Over the past six months, we have been focused on finalising the scope of works and budget for the racecourse and associated racing facilities, and exploring the opportunity to have harness racing return to The Valley.&nbsp; We are now in the final stages of contract negotiation with our civil works contractor, and we plan to execute this important project contract before 30 June.&nbsp;&nbsp;The Club has selected Evergreen for our new racecourse.&nbsp; The turf for the new track is currently growing at Evergreen Turf's Pakenham farm.&nbsp; The project plan is to see the new turf laid at The Valley in October 2026, which is anticipated to be completed in November 2026.&nbsp; This then provides a period of nine months for the new track to consolidate and settle ahead of our planned return to racing in August 2027.&nbsp;We are well progressed in securing the necessary debt funding to undertake these works. We expect this to be finalised over the coming weeks.&nbsp; It is pleasing to report that the project remains on schedule as we approach these important project milestones.Budget and FundingThe total budget for the racecourse works, including the grandstand, has increased to $220 million.&nbsp; Our initial budget was set at $200 million, and this increase of 10% is due to cost escalation across both the civil and construction sectors.&nbsp; Pleasingly, the MVRC’s projected returns from our Moonee Valley Park joint venture with Hamton – Hostplus have increased significantly since the project commenced in 2017.Importantly, the MVRC is fully funding the redevelopment. By funding the redevelopment ourselves, we retain full control of the scope and budget, and we will continue to align delivery with forecasted future Moonee Valley Park distributions. The Club and its Members can be proud of the long-term investment we are making into the future sustainability of the Victorian racing industry for generations to come.Grandstand PlanningAnother key milestone is the finalisation of the grandstand design. Our goal is to deliver a facility that meets the Club’s long-term needs, not only from a racing perspective but also as a versatile venue capable of hosting events year-round.Our immediate priority is to confirm the final cost and contract for the racecourse civil works. Once this is contracted, we will refine the grandstand plans to ensure alignment with budget expectations. We anticipate being in a position within the next three months to provide a clearer timeline for the commencement of grandstand construction.Should the grandstand not be completed in time for the racecourse's reopening, we have developed plans outlining the temporary infrastructure required to deliver a major event such as the 2027 Ladbrokes Cox Plate. This infrastructure would be designed to reflect the scale and significance of the occasion.We remain committed to delivering ‘The Valley of Tomorrow’ as soon as possible, while maintaining discipline around the approved budget.Thank you for your ongoing support. I look forward to sharing further updates with you as this exciting transformation progresses.<div>Michael Browell Chief Executive Officer</div>

The Valley will once again play host to a leg of the National Pony Racing Series, with the Victorian event set to take place on 3 Point Motors William Reid Stakes Day, Saturday 22 March.A collaboration between Pony Club Australia and Thoroughbred Industry Careers (TIC), the series is designed to educate young riders on careers in the racing and breeding industry, giving them a taste of professional competition on major racedays.The series features six race meetings across Australia, culminating in the national finals in June. Before the Victorian leg, Ballarat hosted a Jumpstart weekend, where participants received riding instruction, horse health education, career insights, and rider fitness training.&nbsp;In preparation for their big moment on 3 Point Motors William Reid Stakes Day, competitors will also take part in a training day at The Valley to familiarise themselves with the track.On Saturday, two pony races will be held for state finalists aged 9 to 15. The first, over 450m at 11:30 am, is for ponies not exceeding 12.2hh, while the second, over 700m, is for ponies not exceeding 14hh. That event will take place following Race 3 on the card at 1:30 pm.&nbsp;Moonee Valley Racing Club has enjoyed its association with TIC and Pony Club Australia, providing young riders with the opportunity to gain experience on a major racing stage. The Valley hosted a leg of the first National Pony Racing Series in 2023, and last year on 3 Point Motors William Reid Stakes Day held a Shetland Pony Race.With the next generation of riders set to take centre stage once again, The Valley looks forward to another thrilling chapter in this growing series.

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