08/12/2014 11:48AM

Australian Racing Board to take over national Stud Book


The Australian Racing Board is in the process of purchasing the Australian Stud Book for about $16.7 million ($18 million Australian), the Sydney Morning Herald reports.

Founded in 1878, the Stud Book is the Australian Thoroughbred industry’s record of all stallions and broodmares in the country, as well as the more than 15,000 foals per year produced in Australia. It also records brands and assists with the research and promotion of the breed. The Stud Book has been owned by the Australian Turf Club and Victoria Racing Club since 1910.

"The ARB will take control and have all racing-data records centralized, which can only be good for the sport and its integrity," Australian Turf Club Chairman Michael Crismale told the Herald. "It has been more then 12 months to get to this point and we should finalize things this week. It is a good result for the club and the industry."

The Australian Racing Board is also in the process of taking control of Racing Information Services Australia from each state’s Principal Racing Authority.

The acquisitions will go a long way in establishing the authority of the ARB, which was founded in 1988. Prior to obtaining these record-keeping operations, the ARB’s primary objective was to control the Australian rules of racing and serve as a national body to represent the sport across the country, with very little day-to-day operation of the sport.