The broadcasting rights issue in Victoria has been declared as “groundbreaking” by new Racing Victoria CEO David Moodie.
The issue is so big it could be set to define the racing code in Victoria for the next 20 years.
Currently the racing body has two options. One is to continue with the TAB-owned Sky Channel or take a chance and move coverage to a free-to-air broadcaster.
The rights are very much a talking point among the board and Moody described it as a “very big decision”.
“We are talking here about the next 10-20 years of where the industry is heading,” Moodie said.
“It is not about the dollar. Both offers are fairly well set.
“There is a gap between what the industry would receive from Tabcorp (reported to be $30 million a year) and what the industry would need to put in to our coverage for [Channel Seven].
“It is a bird in the hand versus a grand concept. We have the chance to do something groundbreaking and get it right.”
Moodie also said that if the decision to go with Channel Seven was decided, which would provide free-to-air coverage for punters 363 days of the year, it would have no effect on Racing Victoria’s wagering relationship with betting giant Tabcorp.
“I am a supporter of Tabcorp, which provides $340 million annually to the Victorian industry through wagering joint venture. But the media rights are a totally different issue,” he said on RSN.
Moodie also said that racing had been for a long time “riddled with self-interest”.
One advantage of Racing Victoria making a bold move to switch to Channel Seven would be not only free-to-air coverage for punters but also a return to mounting and interviews, previews and reviews with jockeys, trainers and owners.
The initial cost of the deal to establish coverage on Channel Seven is believed to be about $10 million for the first year, which would be offset with advertising revenue from corporate bookmakers and industry shareholders.
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