Latest News

Back to Latest News back


Operators sought to offload lease for Sydney’s ANZ Stadium

Operators sought to offload lease for Sydney’s ANZ Stadium
May 29, 2013

The leasees of Sydney's ANZ Stadium reportedly sought to end the lease for the former Sydney Olympic Stadium.

News Ltd media sources recently reported that Stadium Australia Group (SAG), holders of the lease from the NSW Government over the former Olympic Stadium until 2031, offered to "sell" it back for $100 million. However, the move was apparently blocked by NSW Treasury officials.

News Ltd reported that although the stadium makes a profit of between $10 and $30 million a year, the leasees feel that without significant investment the venue will soon become outdated when compared to other contemporary venues.

Earlier this year plans were revealed plans for a $250-$300 million upgrade of the stadium which would include installing constructing bars and restaurants around the site; a roof; and retractable seats at either end to bring spectators closer to game action when in 'rectangular mode' for football, Rugby Union and Rugby League.

However, News Limited reported that the NSW Government rejected the plans due to apparent lack of funds leading the leasees to suggest returning the stadium to the NSW Government's Sydney Olympic Park Authority.

ANZ Stadium Chief Executive Daryl Kerry told News Ltd "we're disappointed the (NSW) Government didn't get their head around ... (the proposal) because it's a really solid proposal but it could be revisited.

"If they want to run it into the ground that is their prerogative but I can't allow that to happen under my watch ... it would be detrimental to our business and NSW."

Stadium managers contrast lack of investment in the ANZ Stadium with the NSW Government's $65 million investment in upgrading the adjacent Sydney Showgrounds into an AFL venue - when the AFL ready ANZ Stadium sits next door along with investment in upgrading both the Sydney Cricket Ground (SCG) and Allianz Stadium.

Here, Kerry told News Ltd "clearly they (the NSW Government) have found some money more recently in upgrading the SCG."

Kerry added that the lease structure meant there was no benefit to the owners of the stadium in spending their own money on upgrades because it would shortly be back in government hands.

He explained "there's no obligation for us to undertake some major developments. (There's no obligation) other than to make sure it operates and it's in reasonable condition."

As reported in March (see link below), the ANZ Stadium is currently experiencing one of its busiest years.

ANZ Stadium is operated by the Stadium Australia Group (SAG), comprising Stadium Australia Trust (SAT) and Stadium Australia Management Limited (SAM), under the terms of a lease from NSW Government agency the Sydney Olympic Park Authority (SOPA).

In accordance with the lease, which expires on 31st January 2031, SAG is responsible for the operation, marketing and maintenance of ANZ Stadium. On expiry of the lease, the operation of the Stadium will revert to SOPA.

SAG is a wholly-owned subsidiary of Stadium Investments Pty Ltd (SIPL), a company which is wholly owned by Diversified Infrastructure Trust (DIT).

DIT is managed by ANZ Infrastructure Services Limited and its responsible entity is ANZ Specialist Asset Management Limited. DIT has interests in other infrastructure assets and has a range of institutional investors including ANZ.

Article amended 31st May 2013.





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 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


The Calgym/Synergy group has had a long and proud history since 1976 as world leaders in the innovation, design and evolution of commercial strength and conditioning equipment. The Synergy group was…

read more

Fitness / Technology / Wellness


Abel Sports

INTRODUCTION Abel Sports is Australia’s leading manufacturer and suppliers of Goal Posts, sports ground safety netting systems and coaches boxes for Stadiums ,Sports Clubs, Councils and…

read more

Recreation / Sport / Venues



Mattioli provides award winning painting, flooring and waterproofing services to the aquatics and recreation sector. We’re recognised as the leading contractor in the industry with award-winning…

read more

Aquatics / Recreation / Safety


Crystal Pools

Crystal Pools has a solid history of performance on a wide variety of government and commercial projects and is the name behind many of Australia’s most innovative and ambitious aquatic…

read more

Aquatics / Design



With its sleek good looks and easy-to-use yet powerful functionality, Envibe is the premium fitness club software for the Australasian leisure, recreation and fitness industry. We are the most…

read more

Aquatics / Fitness / Recreation / Technology


WATERPLAY Solutions Corp

Whether your goal is increasing your centre's revenues or creating an engaging environment, why not add play to your project? If you're looking for stylish aquatic play features, kid-tested…

read more

Aquatics / Attractions / Play / Recreation / Waterparks


Aflex Inflatables

Aflex Inflatables are the leaders for obstacle courses, pool toys, waterparks and land-based watersides and fitness runs. They are industry leaders offering the widest range of pool, lake and beach…

read more

Aquatics / Play / Waterparks



About Priava's Technology -  Priava is a cloud-based and centralised venue and event management system aimed at venues of all sizes. With its familiar and easy-to-use web interface, the…

read more

Attractions / Billing / Entertainment / Events / 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