Radio veteran and general manager of Melbourne’s Sport 927, Noel Crowe, has quit the station after 16 years at the helm. But his departure comes as controversy surrounds the release of financial figures that show that the station has racked up $20 million in losses over the past five years.

According to a report in the Fairfax press, the AM station, now known as Radio Sports National which covers all kinds of racing of the four legged kind, has been an ongoing drain on its owners with losses incurred ranging between $3.2 million and $4.5 million per year for the past five years.

As a racing station it has what is known in the business as a “terminal audience” meaning that their listeners are there for only one thing, horse and dog races. Although there are no official figures – the station along with 2KY and 2SM in Sydney chose to opt out of the Nielsen ratings years ago – with such a narrow program focus, it is unlikely that they command much of an audience.

Another radio veteran, recently retired 3AW announcer Keith McGowan (left) who is also a long established owner and breeder in the Harness Racing industry made this comment to radioinfo…

“After reading the plight of “Sport 927” I’m wondering if there is a real place these days for a racing radio station. I am in no way critical of “Sport 927” but as an “enthusiastic racing man” I cannot recall the last time I turned on the radio to hear a race.

“My Foxtel is loaded down with all of the racing channels and if I’m on the road I’ll duck into a TAB or Pub Tab to watch the race I’m interested in. The losses accrued are horrendous and as a participator in Harness Racing I would hate to think the HR governing body is using what could be stake dollars to prop up a radio station which they partly own, said Mr McGowan.