Gold Circle, SA’s second-largest horse racing company — which hosts the iconic Vodacom Durban July — is mired in debt, with its members in dispute over accessing a R230m development fund to prop it up financially.

On Thursday the ailing horse racing operator will hold a virtual meeting at which members will decide if the company can use the funds to save the company.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now