The Canterbury Jockey Club has been granted permission to bowl over the historic grandstand, despite opposition from heritage campaigners.
The club sought approval to knock down the stand because repairing it would send the club into financial ruin.
Chief executive Tim Mills told NewsTalkZB's Mike Hosking the stand has seen some of New Zealand's finest moments in racing history, but keeping it isn't an option.
Mills says the evolution of the sport coupled with the earthquake damage made saving it unachievable.