McKeough spoke with new chairman Geoff Barnett and has expressed his fear that growing business commitments will prevent him from fulfilling his role with the NJC.

‘‘I formalised my resignation with a letter to the club. The next board meeting will be my last,’’ McKeough told the Herald from Sydney yesterday.

The NJC board of directors meets on January 27.

McKeough is a successful businessman who is expanding his investment in the McDonalds organisation this year.

‘‘I don’t want to be a part-timer at anything I do,’’ McKeough said.

‘‘I really enjoy and love racing, but if I can’t give my all to the club because of business commitments then I feel it is best that I resign.’’

McKeough denied that his decision had anything to do with the turbulent times that the NJC was enduring.

‘‘That is definitely not the reason,’’ he said. ‘‘I was looking forward to being on a board committed to restoring Newcastle’s place in racing.

‘‘But I am getting more and more involved with McDonalds and that is taking a lot of my focus.

‘‘I did miss directors’ meetings last year because I was overseas on business. I can see a bright future for the NJC.

‘‘The new CEO, Cameron Williams, is a talented young man and our new chairman, Geoff Barnett, is showing he has the skill to lead the club successfully.’’

McKeough said he might return to some form of racing administration in the future.

‘‘I will still be associated with the club in an advisory capacity,’’ McKeough said.

Barnett yesterday confirmed that the NJC board of directors meeting on Friday week would be McKeough’s last.

‘‘Murray has spoken to me about the situation and he basically said that if he can’t give the club his total commitment then he would step down,’’ Barnett said.

‘‘Murray is heavily involved in the McDonalds organisation and that is taking up more and more of his time.

‘‘It is disappointing as Murray is passionate about racing and trying to improve things with the NJC.’’