ANZ Stadium’s $350 Million Redevelopment Plan

[TommyVercetti]

What an utter disaster.

"The stadium’s private-sector owners and operators are lobbying the Baird government for about $250 million to modernise the 15-year-old venue. It is understood the stadium owners, Stadium Australia Group, would be prepared to put in $100 million if its ownership lease is extended beyond 2031 when it is due to hand back the venue to the government."

That says a lot about a venue that's a decade and a half old.

http://www.dailytelegraph.com.au/ne...126339600?nk=c1df485cb69a3e6a047aae8e9f245b19

 

[CozzaD]

Excuse the 'conspiracy theory' aspect, but all is on the table here.



Remember AFL Chairman Mike Fitzpatrick’s purchase of ANZ Stadium in Sydney? It was done as a fallout of the 2008 Opes Prime financial collapse.

Here’s roughly how it works:

- Opes Prime collapse in 2008, ANZ Bank and Merrill Lynch are connected somehow to Opes Prime
- Mick Gatto travels to Singapore to try to recover money from Opes Prime chiefs
- Mike Fitzpatrick buys ANZ Stadium off ANZ, after it loses its “ANZ Investment Arm” as a result of Opes Prime collapse.

Relevant articles are below.

http://www.smh.com.au/news/world/ki...il-to-singapore/2008/04/08/1207420389782.html

Killer follows money trail to Singapore

Mark Forbes in Singapore
April 9, 2008


THE burly figure of Mick Gatto, the former boxer and killer of a gangland hitman turned "mediator", ambled into Singapore's glitzy Changi Airport last night, hoping to help recoup millions lost by clients of the stockbroker Opes Prime.

Mr Gatto's powers of persuasion have worked wonders in Melbourne's bars, backstreets and building sites but it remains to be seen if he can shake down the elusive world of high finance and international capital transfers.

Flanked by two bulky associates, Mr Gatto said he had a "couple of good leads" and "a couple of people to visit" in an attempt to recover $300 million lost by several Opes Prime clients who had engaged him.

First on the agenda was a visit to Opes Prime's Singapore office, he said. Hundreds of millions of dollars were channelled through the office to a British Virgin Islands company and subsequently disappeared.

Russia and the Virgin Islands were possible havens for the cash, Mr Gatto said.

http://www.heraldsun.com.au/news/victoria/mick-gatto-theres-no-cash/story-e6frf7kx-1111116040463

Mick Gatto: there's no Opes Prime cash
CRAIG BINNIE HERALD SUN APRIL 12, 2008 12:00AM SHARE

THE Australian Taxation Office has launched an investigation into the "colourful identities" embroiled in the failed stockbroker Opes Prime saga.


http://www.theaustralian.com.au/new...ank-sells-assets/story-e6frg6n6-1225739560593


AFL boss scores a stadium as ANZ Bank sells assets
ADELE FERGUSON JUNE 24, 2009 12:00AM
Print
Save for later
A CONSORTIUM led by AFL chairman Mike Fitzpatrick has bought control of Sydney's ANZ Stadium and a clutch of other assets from ANZ Bank.

ANZ will announce the sale of its infrastructure arm, which counts the stadium among almost $1 billion of funds under management, today. The management buyout of ANZ Infrastructure Services (ANZIS) is believed to be worth more than $30 million.

It follows a decision by ANZ to exit alternative asset businesses, including private equity and securities lending, and develop a regional strategy for its troubled institutional division, as it sets an ambitious target of becoming the most profitable institutional banking business in the Asia-Pacific region. The division's biggest public embarrassment has been the Opes Prime securities lending debacle.

Mr Fitzpatrick, who founded Hastings Funds Management before selling a controlling stake to Westpac, will take a 50 per cent interest in ANZIS

 

[CozzaD]

I'll go further, as l looked into Fitzpatrick's interests in ANZ Stadium recently.


http://www.theage.com.au/afl/sydney...tadium-for-sydney-finals-20140915-10h9ng.html

September 15, 2014
Andrew Wu Sports Writer

The AFL has defended its contractual arrangement to stage Sydney's finals at ANZ Stadium, saying the venue's greater capacity enabled it to better serve the league's aim of maximising attendances than the SCG.

The league is expecting a crowd of more than 40,000 on Friday night and though that number would not be beyond the SCG, more general admission tickets are available for the public at the Olympic venue.

http://www.crikey.com.au/2009/06/26/mike-fitzpatricks-tricky-anz-stadium-conflict-of-interest/

Friday, 26 June 2009
Mike Fitzpatrick’s tricky ANZ stadium conflict of interest
by Adam Schwab
Players
The AFL has a long history of conflicts of interest.

A good example is the immediate past Chairman of the AFL commission, the late Ron Evans, who also ran Australia’s largest services company, Spotless. While he was the AFL Chairman, a Spotless subsidiary (Nationwide Venue Management) managed the Docklands Stadium while Spotless had the long-term contract to provide catering services to the MCG.

And VFL visionary and former President, industrialist Sir Kenneth Luke, led the then VFL’s acquisition of the land that would become Waverley Park. It had been alleged that Luke owned part of the land which was sold to the League to develop the now defunct Waverley Park.

It appears tradition is continuing, with former Carlton Premiership captain and the multi-millionaire AFL Chairman, Mike Fitzpatrick, grappling with a few conflicts of his own. Last week, a consortium led by Fitzpatrick, acquired the rights to ANZ Stadium at Homebush.

ANZ Stadium is currently utilised by the Sydney Swans for four matches per year (last week the Swans played at ANZ Stadium in front of a disappointing crowd of only 41,000 spectators). However, the use of ANZ Stadium will become a far greater issue should the AFL decide to introduce a new side in Western Sydney.

Aware of the apparent conflict, Fitzpatrick stated that “as Chairman of the AFL and as the proposed chairman of ANZIS and its investment committee, I will absent myself on any issues relating to ANZ Stadium, at either ANZIS or the AFL and will receive no papers on the ANZ Stadium.”

The problem is despite Fitzpatrick’s best intentions, while he may absent himself from discussions pertaining to the direct use of ANZ stadium, his financial interest in the stadium will lead to Fitzpatrick being placed in a difficult position when the AFL determines the introduction of a second Sydney-based side in the city’s west.

With the AFL planning a boutique stadium at Blacktown (which would hold approximately 10,000 spectators), a West Sydney side would inevitably play the vast majority (if not all) of its matches at ANZ Stadium. Therefore, Fitzpatrick as Chairman of the AFL Commission, is fundamentally conflicted in his determination of whether the AFL should spend upwards of $100 million creating an expansion team in West Sydney. (If the Western Sydney team goes ahead, it is likely that Fitzpatrick will financially benefit through his ownership interest in ANZ Stadium).

http://www.perthnow.com.au/sport/af...809217744?nk=4c2766c715323829532fce9d2a8bca86

Etihad Stadium takes a crack at AFL boss Mike Fitzpatrick over stake in Sydney's ANZ Stadium
MICHAEL WARNER HERALD SUN DECEMBER 10, 2009 9:00PM SHARE

ETIHAD Stadium has fired the latest salvo in footy's bitter stadium war by publicly alluding to AFL chairman Mike Fitzpatrick's private stake in Sydney's ANZ Stadium.

Mr Fitzpatrick, the AFL's most senior figure, recently acquired management rights to Sydney's leading sports arena.

Etihad Stadium chief Ian Collins raised the conflict of interest issue yesterday when quizzed on the growing dispute over where soccer matches would be held in Australia if it were successful in hosting the 2018 or 2022 World Cup.

 

[bombersfan4000]

etihad is nearing 15 years old, does that mean its time for modernise it!
the great southern stand at the MCG is almost 30 years old lets knock it down and replace i!
cant afford to pay for it privatly lets apply and expect govenment funding to pay for most of it

 

[CozzaD]

etihad is nearing 15 years old, does that mean its time for modernise it!
the great southern stand at the MCG is almost 30 years old lets knock it down and replace i!
cant afford to pay for it privatly lets apply and expect govenment funding to pay for most of it

Fitzpatrick knows how to pull a swindle.

 

[TN25]

Definitely not needed. Is a very modern looking stadium already.

 

[desie]

I can tell you for a fact it won't happen : )

 

[Justinpa1]

Will definitely make it one of the best stadiums in Australia in 2018 behind the new Perth stadium and Adelaide Oval.

 

[Cleavy]

are they going to transport it to a better area?

 

[bombersfan4000]

Will definitely make it one of the best stadiums in Australia in 2018 behind the new Perth stadium and Adelaide Oval.

no it wont. the biggest problem with ANZ stadium is the angle the rows of seats are on the best thing they could do it bulldoze the stadium and start again

 

[bombersfan4000]

are they going to transport it to a better area?

there is a trainline with station next to the stadium, as well as several bus stops what more could they do?

 

[dantm]

I can tell you for a fact it won't happen : )

Considering that the NSW government have publicly stated that support an upgrade at Homebush based on the NSW Stadia Strategy,then I have no idea why you think it wont happen.
Its been very clear that ANZ Stadium will be upgraded to suit the rectangular codes.It was never done correctly in the first place back in 2001 when the AFL hijacked the reconfiguration design and made the ground unsuitable for the codes that actually fill the place(Rugby League,Union and Soccer)

 

[dantm]

no it wont. the biggest problem with ANZ stadium is the angle the rows of seats are on the best thing they could do it bulldoze the stadium and start again

Its funny when people say that,without realising that the lower level rake at ANZ,is actually steeper than the lower level at the MCG in both the Northern and Great Southern Stands.

 

[desie]

Considering that the NSW government have publicly stated that support an upgrade at Homebush based on the NSW Stadia Strategy,then I have no idea why you think it wont happen.
Its been very clear that ANZ Stadium will be upgraded to suit the rectangular codes.It was never done correctly in the first place back in 2001 when the AFL hijacked the reconfiguration design and made the ground unsuitable for the codes that actually fill the place(Rugby League,Union and Soccer)

The government has said that they'll be guided by the State Infrastructure Strategy that will be released shortly, completely separate from the Stadia Strategy which really is a nothing document.

 

[bombersfan4000]

Its funny when people say that,without realising that the lower level rake at ANZ,is actually steeper than the lower level at the MCG in both the Northern and Great Southern Stands.

thats what i meant in my original post, add in the fact when they add in the seats to make it a rectangular field, the front several rows are really poor for viewing.

its a typical NSW patch up job. lets spend another $350 million on it, then 10 later on down the track let bulldoze it as it was really poor design to begin with!

ffs
the Great southern stand is 30 years old lets bulldoze it & improve it. private investors cant come with funding, so lets go to government & expect hand outs! every other ghost town stadium & Club ground is bank rolled by tax payers so why not!

 

[RUNVS]

there is a trainline with station next to the stadium, as well as several bus stops what more could they do?

Well there is a train line but you have to change lines to get to the station which is always a pain. The line to ANZ Stadium just goes around in a loop.

 

[Speck]

Ground is in a bad place, that is where the problem lies. Upgrading the stadium might rejuvenate it a bit but still doesn't solve the main problem with it.

 

[HBFlanker]

In this order, by 2018 the best stadiums will be:

MCG
Perth Stadium
Adelaide Oval
Metricon Stadium (after CG upgrade)
Etihad Stadium

ANZ stadium will never be in the top group as it is in a shocking location

 

[dantm]

Well there is a train line but you have to change lines to get to the station which is always a pain. The line to ANZ Stadium just goes around in a loop.

Not exactly correct.
Most ANZ Stadium major events have direct trains from Central to Olympic Park.

 

[KissKiss]

Not exactly correct.
Most ANZ Stadium major events have direct trains from Central to Olympic Park.

Ive only been up to a couple of different matches there but it seemed very difficult to get to. And leaving after the game to get the train seemed like chaos. Seemed really badly planned.

This is spoken as someone well and truely spoilt by the MCG and Etihad

 

[Crawb]

Just cover the stadium in gasoline and light up. Simple.

 

[KissKiss]

Just cover the stadium in gasoline and light up. Simple.

The old "accidental" fire for insurance reasons

 

[Hawker81]

and they want to upgrade parramatta and allianz stadium as well! How much money do the NSW government want to waste on stadiums up there. There was also a different report that said they want to rebuild parramatta stadium. In the NFL, teams threaten to leave the city so governments cave in and fund stadiums, but I can't really see why governments here should. If ANZ doesn't get upgraded, teams aren't going to threaten to leave, so I can't see what the economic benefit is of spending so much on stadiums are. The government sells off its electricity asset, for a stadium that will benefit the owners and not the taxpayers or the state.

http://www.dailytelegraph.com.au/ne...-sydney-stadiums/story-fni0cx4q-1227127769990
http://www.dailytelegraph.com.au/ne...108642566?nk=93b4a0d880d20d91ad88f64facb6032a

 

[bombersfan4000]

and they want to upgrade parramatta and allianz stadium as well! How much money do the NSW government want to waste on stadiums up there. There was also a different report that said they want to rebuild parramatta stadium. In the NFL, teams threaten to leave the city so governments cave in and fund stadiums, but I can't really see why governments here should. If ANZ doesn't get upgraded, teams aren't going to threaten to leave, so I can't see what the economic benefit is of spending so much on stadiums are. The government sells off its electricity asset, for a stadium that will benefit the owners and not the taxpayers or the state.

http://www.dailytelegraph.com.au/ne...-sydney-stadiums/story-fni0cx4q-1227127769990
http://www.dailytelegraph.com.au/ne...108642566?nk=93b4a0d880d20d91ad88f64facb6032a

there are also plans to build a new 45k seater enclosed stadium in liverpool
http://sportsbusinessinsider.com.au/news/the-worlds-most-functional-stadium-for-western-sydney/
Penrith expect 500 million from the government for a new stadium
http://www.smh.com.au/nsw/penrith-may-build-500m-sport-stadium-20140411-36ij2.html

as well as don't forget Allianz stadium is due to be upgraded and have a roof placed in it as well as the SCG has just had a massive several million dollar upgrade, add in all of the NRL club grounds, that get used only a handful of times a year, the government also props up. as well as other the number of other unused stadiums, many grounds are built for political purposes! its a joke, when you consider the number of other sporting & community groups & facilities, in NSW and Australia that are screaming and desperate for finding

 

[RUNVS]

I am not sure how upgradable Parramatta stadium is as it is right next to the road and there is no place to put the additional parking that would be required.