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NSW Government to commit $1 billion to stadium development?

NSW Government to commit $1 billion to stadium development?
May 4, 2015

With rival groups pushing for financial backing for upgrades to Sydney's Allianz and ANZ Stadiums respectively, the NSW Government is apparently ready to turn its back on funding the former Olympic Stadium and support a new 65,000-seat venue at Moore Park and a new 35,000 seat Pirtek Stadium in Parramatta.

A report in Sydney newspaper The Daily Telegraph suggest that with a potential $600 million already pledged to elite sporting infrastructure if it proceeds with planned asset sales, NSW Premier Mike Baird will be asked support to now commit more than $1 billion for the potential new venues.

The Daily Telegraph articles quotes “highly placed sources” as saying the NSW Government will need to allocate about $800 million to build the new Moore Park stadium and $400 million for Parramatta Stadium.

A smaller multi-sports venue - believed to be worth about $100 million - would be built on the site of Allianz Stadium when it is demolished.

While the new Moore Park Stadium would include an underground carpark and be serviced by the new light-rail service running from the Sydney CBD to its Eastern Suburbs.

If true, the Stadium plan is likely to be controversial because:

• At a time when grassroots sport is appealing for funding, it doubles funding for elite venue promoted during the NSW election in March;

• It proposes a new stadium on land presently controlled by the Centennial Park and Moore Park Trust;

• It proposes the demolition of the “outdated” Allianz Stadium – only built in 1988;

• Plans for a $250 to $350 million upgrade of ANZ Stadium at Sydney Olympic Park would ignored, with the 83,000 seat former Olympic Stadium presumably being left to stage a dwindling number of elite events within ageing infrastructure.

The proposal also suggests that management of the venues be undertaken by a new ‘super trust’, involving the Sydney Cricket and Sports Ground Trust taking control of the management of Pirtek Stadium and reaching a ‘management partnership’, with ANZ’s private-sector operator, Stadium Australia Group.

Stadium Australia Group would reportedly be paid annual annuities worth $135 million - a figure based on its projected earnings over the rest of its lease, due to expire in 2031.

It would also agree to waive its contractual rights which would limit the new Moore Park venue to 48,000 seats and Parramatta Stadium to 35,000.

Image: Previous plans for a roof on Allianz Stadium have been replaced by a proposal for a new adjacent venue.

Click here to read the original feature in ANZ Stadium loses out under plan to build new sports stadiums at Moore Park and Parramatta in The Daily Telegraph.

27th November 2014 - STADIUM PLANS TO QUICKLY SWALLOW UP NSW GOVERNMENT’S $600 MILLION SPORTING INFRASTRUCTURE FUND

19th November 2014 - ANZ STADIUM OPERATORS ‘CONFIDENT’ OF $250 MILLION NSW GOVERNMENT REDEVELOPMENT CONTRIBUTION

28th May 2014 - PLANS REVEALED FOR $250 MILLION UPGRADE OF SYDNEY’S ALLIANZ STADIUM

15th July 2014 - NSW GOVERNMENT REAFFIRMS PLANS TO BACK MAJOR STADIA


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