Latest News

Back to Latest News back

 

Auckland Council considers financial support for Eden Park

Auckland Council considers financial support for Eden Park
March 18, 2019

Auckland Council will this week consider a $63.3 million financial support for Eden Park, incorporating existing loans and guarantees already provided by Council.

The funding will be considered by Councillors at the Tuesday Finance and Performance Committee and will comprise of Council taking over the current $40 million loan and $7 million working capital facility from ASB and combining them with an existing $6.5 million loan from Council.

The $63.3 million also includes a new $9.8 million loan facility which would allow the Trust to fund its programme of essential capital works.

Commenting on the package, Auckland Mayor Phil Goff advised “his is a hand-up to Eden Park, not a hand-out. The money is repayable.

"What it does allow is Eden Park to continue as Auckland’s venue for international sporting events in rugby, cricket and other sports for the medium term.

"Eden Park faces significant financial pressure. Council taking the loan over from ASB eases some demands on repayments and the new loan of $9.8 million, in the form of a repayable credit facility, will enable Eden Park to fund much needed maintenance and renewals including turf replacement and stand upgrades.

"Ratepayers will welcome Council’s proposal to issue its support as a loan rather than a grant. We have a responsibility to protect any financial investment by Aucklanders in Eden Park given that we do not own or control the Park.

"It is only fair that investment made by Aucklanders through Council in the Park comes back to them when Eden Park Trust is in a better financial position or sells the asset.

"The proposal will also be conditional on a much closer working relationship between Council, Eden Park Trust and Regional Facilities Auckland. All organisations need to work together to ensure that we have in place a joint strategy that can achieve less duplication, lower costs and better utilisation of Auckland’s stadiums.

"Council’s proposal will allow Eden Park to continue to play its role as an important sporting and event venue for Auckland for the next 10 to 15 years.”

Click here to view the Auckland Council Finance and Performance Committee paper on the matter.

Related Articles

16th March 2019 - Agreement sees speedway remaining at Western Springs for additional year

6th March 2019 - Eden Park to host international rugby league triple-header

25th February 2019 - Eden Park to host Te Matatini national kapa haka festival 2021

15th February 2019 - Eden Park to host three sporting codes in 24 hours

29th January 2019 - Eden Park annual report shows cost of resource consent applications

11th January 2019 - Report suggests grim financial future for Auckland’s Eden Park

4th December 2018 - Eden Park to host extravaganza for sport lovers

24th October 2018 - Eden Park team retains Australasian Leisure Management communication and marketing award

24th September 2018 - Board appointments to Eden Park Trust and Drug Free Sport New Zealand

22nd August 2018 - ASB G9 returns to Eden Park for its second year

7th August 2018 - Federal and NSW Governments back Rugby Australia plans for 2021 Women’s Rugby World Cup

28th May 2018 - Major sports back Auckland stadium strategy

19th May 2018 - Consultants report reopens debate on new Auckland Stadium


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Altitude Training Systems

Also at 3 Squill Place, Arndell Park NSW 2148 ATS are global leaders in altitude training and research. From mask systems and inflatable tents to simulated altitude facilities, we help…

read more

Fitness / Sport / Technology

 
 

Ecoline

Ecoline is a highly experienced and skilled company that offers world-first technology in safety, protects the environment and provides a unique and challenging custom-made adventure and educational…

read more

Attractions / Environment / Safety / Tourism

 
 

IEDM

iEDM integrate Design, Engineering and Delivery Management services to convert existing spaces into exciting new entertainment venues. Our team consists of highly qualified professionals with diverse…

read more

Consultants / Design

 
 

TRISLEYS HYDRAULIC SERVICES

Trisley's Hydraulic Services P/L (THS) are a specialised pool company dealing with all aspects of the commercial swimming pool industry, including the installation and servicing from the smallest…

read more

Aquatics / Design / Play / Waterparks

 
 

PULSETEC SOLUTIONS

PulseTec Solutions is a leading provider of software systems and solutions to the health and fitness industry for more than a decade. Our key products and services include ClientConnect studio and…

read more

Access / Fitness / Marketing / Technology / Venues

 
 

HTS Group Ltd

HTS Group Ltd provides a complete design, system integration, installation and maintenance package to the transportation, traffic engineering, parking and sports timing industries in New Zealand,…

read more

Aquatics / Events / Sport / Technology

 
 
 

Hydrocare Pool Services

Hydrocare Pool Services Pty Ltd offer 25 years of experience in aquatic industry features, products and water treatment. Hydrocare Pools has undertaken water treatment for aquatic centres and…

read more

Aquatics / Attractions / Play / Recreation / Technology

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business