Morphettville Racecourse
Services Provided
Full Banking & Finance Tender
Project Overview
SAJC has commenced a very significant development of the iconic Morphettville Racecourse and surrounding land that will take some years to complete. An early stage of this Master Plan was the completion of the Wolf Blass Events Centre, a magnificent corporate events facility just past the finishing post of the racecourse.
Industry: Horse Racing & Hospitality
The Challenge
Having trouble obtaining a meaningful commitment from their existing bank to fund the Events Centre, SAJC engaged Glengyle Finance. We were engaged to seek an expression of interest from selected financial institutions for a full refinance of its banking and finance arrangements, initially providing funding for the completion of the Wolf Blass Events Centre.
The Solution
Working closely with the CFO, Glengyle Finance put together an extensive Finance Memorandum which was submitted to the selected banks. SAJC received a finance offer that exceeded its expectations in amount, pricing, terms and conditions and the Wolf Blass Events Centre is now successfully operating.
Testimonial
“The South Australian Jockey Club (SAJC) engaged Craig to identify a banking partner that we felt would both work with the Club and fit better with our future goals. This included the preparation of a comprehensive Finance Memorandum as well as the identification of suitable financial institutions. Craig then managed the discussions, negotiations and credit reviews resulting in the Club accepting his recommendation to move to a new bank.
Craig’s professionalism and insight into the South Australian banking market gave us great confidence from the very start of this process, with the outputs and outcomes generated exceeding our initial expectations. Craig’s sage banking industry knowledge and advice has been crucial as the Club embarks on a period of great transformation. I am happy to highly recommend Craig and his business, Glengyle Finance.”
Michael Cox, Chief Financial Officer
