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.
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Ray’s comments
Tuesday at Addington
Race 9: Debbie Lincoln
4.03pm
“She’s drawn out but I think she’s got the gate speed to be put into the race. You’ve got to be handy to beat the good ones and we don’t want to be stuck behind some of the others. The one drawn two inside us, Arafura, looks the one to beat but Debbie is as good as anything in the race in my opinion. It’s not going to be easy but I’m hopeful. She’s done well down here and is in good shape.”
Ray’s comments
Friday night at Cambridge
Race 5: Im Not The Maid
6.17pm
“The draw helps and while she’s very honest she still needs to improve. Gary Hall said she was a bit stop-start last time but he cut corners and wasn’t too far away at the finish. He reckoned his toe rope broke at the top of the straight.”
Race 8: Lincoln Maree
7.49pm
“She showed no speed when resuming and it’s hard to see her playing a part in this.”
Race 8: Lincoln Downs
7.49pm
“She went the best of them last time, was hampered turning or home, and could improve.”
Race 8: Jessie Lincoln
7.49pm
“She’s a big filly but so far, so good. There are a few negatives, like the second row draw and it being her first time under lights, but I think she could go quite well. It’s not a wonderful lot against her and she’s training well.”
Race 8: Lincoln’s Spice
7.49pm
“She over-raced early first-up and burned herself out. She’s a delicate little thing but we’ll put some plugs in her this week. Last time in I thought she could be the best of them. Whether the others have caught her up or she’s gone backwards I don’t know.”
