RNZ understands there were tensions within the board and some of the association’s general committee remained hopeful of salvaging this year’s show.
Opinions were divided on whether the association could support and afford a professional board in the future.
The organisation’s structure has been in place since about 1990, but association general committee president Bryce Murray told RNZ last week it was no longer affordable.
There had been rumours of board members resigning at July’s general meeting, but RNZ understands it was set to come to a head before that.
Christchurch city councillor Sam MacDonald openly floated the possibility of changes to the board while speaking to RNZ’s Morning Report on Wednesday.
In 2015, the Canterbury A&P Association took out a 100-year lease on a 5ha parcel of council land that formed part of the Agricultural Park.
That land was now surplus to requirements for the association.
The council also established a $1 million loan to the association in 2021 after it had to cancel the 2020 show due to the Covid-19 pandemic.
The 2021 New Zealand Agricultural Show was also cancelled and the full loan drawn down.
Under the deal, the association would surrender the remaining 91 years of its lease on the council land and receive $1m in compensation from the council as a result.
That would then be used by the association to pay back the $1m loan to the council.
Additionally, $4m would be placed into a protected investment trust to ensure the future of the New Zealand Agricultural Show.
– RNZ
