The 111 year old Broadmeadow horse racing course in Newcastle is getting a refit, and aged care could be part of the mix.

In addition to aged-care accommodation, a hotel is also mooted for Newcastle Jockey Club’s redevelopment concept for Broadmeadow.

Expression of interest from developers has been sought for the joint venture. Club chief executive officer Cameron Williams said the club had $11.2million to spend.

Mr Williams said that a new funding model is required to source future income. Aged care could be part of that.

‘‘Our income stream must be secure to offset the volatility that comes with racing,” said Mr Williams, citing equine influenza as an event with a damaging, uncontrollable impact on the industry.

Tenders for the aged-care accommodation close on January 14.