The 35ha training centre at Pukekohe.
Debt-ridden ATC on back foot again after buyer pulls out of $70m sale of Franklin Park
By Barry Lichter • 23 October 2025
The Auckland Trotting Club has taken another blow with news today that the sale of its Franklin Park traiing centre has fallen through.
In a newsletter to members, club president Jamie McKinnon revealed that Oyster Capital had exercised its right, after due diligence, to withdraw from August’s $70 million agreement.
The primary reason given, he said, related to the development yield and cost.
It is the second time that sale of the land has fallen through. In 2024 the Chinese backed property investment company Mount Hope Ltd pulled out of a deal worth $100 million after paying a $10 million deposit.
McKinnon said the club now had several options, including to re-engage with parties who submitted previous offers.
The club could also approach investors in neighbouring properties who might see considerable strategic value in securing some or all of the adjoining land.
“On a positive note, we held a meeting with Westpac today, which was both constructive and reassuring.
“Their opening remark was, “no need to panic, because we aren’t.”
McKinnon said the ATC board had already been preparing a contingency plan which was presented to Westpac.
“I also spoke today with HRNZ Chairman Grant Jarold, and both (ATC lawyer) Graham Harford and I intend to meet with him towards the end of next week.
“While it is naturally disappointing that the current Franklin Park sale will not be going ahead, there is no doubt that the board remains fully committed to finding solutions to reduce debt and to deliver the best possible outcome for our club.
The ATC has a debt of about $80 million from its failed property development and is paying crippling monthly interest fees of $500,000.
More news in Harness
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Lincoln Wave scorches in, still on target for richer races and Sammy’s making progress too
Johnny Lincoln’s big ticker will stand to him in the States and Lover’s also sold to Aussie
No Jumals to beat this time at the Park so Ray’s looking for Lincoln Wave to roll in
Our runners this week: How our trainer rates them
Ray’s comments
Thursday night at Cambridge
Race 1: The Night Fox
4.59pm
“He’s racing well and I can’t fault him. The opposition is stronger this time but I can’t see why he won’t go another good race.”
Race 3: Spiritual Bliss
5.59pm
“She’s a good, tough mare. It depends on the trip you get in these sort of races but she loves it when they run hard and she can get some of the money.”
Race 3: Ultimate Cullect
5.59pm
“We haven’t had a lot of time to assess her yet. From the one drive I’ve had on her she doesn’t strike me as a sit-sprinter. But if they go hard, hopefully she’ll get home well.”
Race 5: Lincoln Maree
6.57pm
“It’s a “brutal” race but she’s drawn to get a suck along and hopefully she can last well enough for a cheque.”
Race 6: Leo Lincoln
7.29pm
“There are a few in there that are better than him but he has a handicap advantage and, if he gets a good trip, he could get some of it. He steps well and his driver reckoned he would have won last week if he’d got the run at the right time.”
Race 10: Sammy Lincoln
9.23pm
“I can’t imagine him being beaten - they’d have to knock him over. He’s very fast and in case he has to move quickly early we’ll use the shorteners. I can’t see any problem with him going left-handed - he’s probably better that way.”
Race 11: Rivergirl Bella
9.54pm
“She’s honest and will try hard.”
