The board of the Tamworth Jockey Club has been stood aside and an administrator is set to be appointed.
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Racing NSW has accepted an offer from the entire club's board to step aside, the state's Minister for Racing and Tamworth MP Kevin Anderson confirmed on Monday.
Late on Monday, club general manager Wayne Wood confirmed the board's offer to step aside, made on Fridaym=, was accepted on Monday.
"The board has offered to stand aside and Racing NSW has responded to the Tamworth Jockey Club by accepting the board's offer to stand aside," Mr Anderson said.
"[Racing NSW are] also advising Tamworth Jockey Club (TJC) that Racing NSW will shortly be appointing an administrator to oversee the affairs of the Tamworth Jockey Club.
"The Administrator will work with TJC accountants and the general manager to conduct the affairs of the club."
Mr Anderson said the Racing NSW inquiry "is under way" and concerns "transactions involving the jockey club".
Mr Wood refused to be drawn on the allegations or the inquiry.
"I think the board has done a fine job thus far. I've only been here a short period of time," he said. "These matters were all in place prior to my appointment."
In an earlier interview with the Leader, Mr Anderson said he'd met with jockeys before Christmas concerned about the state of the track, and relayed those concerns to the club's general manager.
The Leader is not suggesting any wrongdoing by the TJC, but the club's two most recent meets were relocated over concerns about the quality of the track, after recent heavy rain.
On Monday, Mr Anderson refused to elaborate further on the nature of the allegations concerning the club. He also refused to speculate how long the "open-ended inquiry" would take to reach a finding.
"While there's an inquiry going on, we'll let the inquiry do its work. My focus, as well as Racing NSW's, is to get some stability and cohesiveness back into Tamworth Jockey Club," Mr Anderson said.