THE head of Canberra’s racing club has likened a surprise plan to build houses on Thoroughbred Park as a “hostile takeover”.

On Melbourne Cup Day – one of racing’s biggest days – the ACT government released a draft development strategy for the city’s inner north.

The strategy included two options for Thoroughbred Park. Option A is to develop some of the site into homes and shops, and option B is to develop all of the land and get rid of the race track.

Canberra Racing Club Chief Executive Officer Darren Pearce said option B came as a “total surprise” .

“With no consultation, and delivered on Melbourne Cup Day when we were hosting a significant race day of our own,” Pearce said.

“It felt akin to being a company in the middle of an AGM and getting a tap on the shoulder that a hostile takeover had been launched.

“There were a lot of employees of the club and racing industry participants who had a sleepless night worrying about what option B meant for them, their careers, their businesses and their families.”

The racing club does want to develop some of the land, Pearce said, with option A “closely aligned” to the club’s master plan.

In a statement, the ACT government said it had signed a five-year agreement with the racing club earlier this year, and the strategy was “not a plan to end horse racing”.

The ACT has already banned greyhound racing, and the Greens want to end all public funding for horse-racing.

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