By Kristen Manning
Cover image courtesy of The Image Is Everything
Changes are afoot at Racing Victoria with announcements made on Monday on the back of a review initiated by Chief Executive Aaron Morrison who took up the role in August.
Racing Victoria (RV) has announced significant changes to its media and broadcast businesses, citing a need to streamline governance, improve efficiency, and expand the sport's reach. These changes include restructuring its wholly-owned Racing.com Media (RDCM) and majority-owned RSN Racing & Sport (RSN) operations while addressing broader financial challenges.
Media restructuring and leadership shifts
RV will bring RDCM under its direct operational management starting January 2025. As part of this shift, the RDCM Board will dissolve, and the role of Chief Executive, currently held by Peter Campbell, will be made redundant. Campbell will remain with RV until June 30, 2025, to support the transition and recruitment of a new Executive General Manager (EGM), who will oversee media operations alongside RV’s marketing, communications, and content portfolios.
“Our stakeholders recognise the great benefits that our media businesses have delivered, and rightfully expect that we’re efficient in our operations and maximising our investment.
“We’re going to do that by simplifying our governance structures and creating greater alignment across the RV Group so we can maximise our investments in our assets and talent,” RV Chief Executive Aaron Morrison explained.
Aaron Morrison | Image courtesy of Racing Victoria
RDCM employees will gradually relocate to RV’s headquarters in Flemington during 2025, though studio operations will remain at Docklands. The media division encompasses key brands such as Racing.com, Thoroughbred Racing Productions, Best Bets, Winning Post, and Racing Photos.
RSN will also undergo a structural overhaul. Bernard Saundry will step down as Chief Executive at the end of December 2024 as he moves into Chairman of Harness Racing Victoria. The station, co-owned by RV (73.25 per cent), Harness Racing Victoria (18.75 per cent), and Greyhound Racing Victoria (8 per cent), will continue operations under a revised management agreement that integrates it into the RV media structure.
Morrison praised Saundry’s contributions, stating, “Bernard has guided RSN through a key period of transition with great poise and commitment.”
Navigating financial realities
The restructuring follows a challenging financial year for RV, which reported an $11.8 million loss in 2023/24, the first deficit in 12 years. Contributing factors included a 10 per cent decline in turnover and the conclusion of a 30-year joint venture with Tabcorp, which resulted in reduced revenue streams.
Despite these pressures, Morrison is positive, noting, “With crowds increasing across the Spring Racing Carnival there is renewed interest in racing. We have a tremendous opportunity to capitalise on this, and further elevate the promotion of racing to a broader audience.”
“With crowds increasing across the Spring Racing Carnival there is renewed interest in racing. We have a tremendous opportunity to capitalise on this, and further elevate the promotion of racing to a broader audience.” - Aaron Morrison
RV’s $185.4 million net asset position provides a buffer to absorb the planned short-term deficit.
Racing Victoria continues its strategic overhaul with key leadership appointments. Vaughn Lynch will join as Chief Operating Officer in February 2025, transitioning from his role as Chief Executive of Racing South Australia.
Gallery: Those with new titles at Racing Victoria
Peter Betson, now Executive General Manager of Strategy and Corporate Services, brings a sporting background from his previous role as Victoria’s Deputy Secretary of Sport and Experience Economy.
Janelle Helleur, with RV since 2018, has been promoted to Executive General Manager of People and Performance, strengthening the organisation’s leadership team as it prepares for further operational reviews.
Morrison commended outgoing leaders for their contributions:
“I want to acknowledge and thank Peter Campbell and the Racing.com Media Board led by Rowen Craigie for their incredible passion, hard work, and contributions. I also want to thank Bernard Saundry for his leadership at RSN and wish him well in his new role.”
