WA Stadium Deal

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WA Stadium Deal

Post by Admin on Wed Feb 10, 2016 12:36 pm

WAFL followers - how crucial will this decision be for the ongoing future of the league? Looks set to leave a major financial hole for them.

http://www.perthnow.com.au/news/western-australia/wa-football-misses-out-on-perth-stadium-deal/news-story/c54ce0962b74fcfee09c25c9ac1cebd3


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Re: WA Stadium Deal

Post by Chambo Off To Work We Go on Wed Feb 10, 2016 1:09 pm

Seems quite a different model to Adelaide Oval where Football and Cricket its major tenants were in the thick of it right from the start.

If the SANFL and SACA were not in it up to their necks then the whole AO redevelopment wouldn't have happened. It seems the Perth Stadium is driven by the government and saying you can play here boys.

It sounds like to me (albeit from the nose-bleed section) that it is a recipe to alienate and reap cash from the stadium's main users.
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Re: WA Stadium Deal

Post by Booney on Wed Feb 10, 2016 1:31 pm

Perth Stadium isn't "owned" by the government.

Westadium ( consortium ) of Brookfield Multiplex,Brookfield Financial, John Laing and Brookfield Johnson Controls are footing the bulk of the build. I think from memory they are then contracted ( much like the SMA ) to maintain the facility for 25 years in a design-build-finance-maintain contract.

It's basically costing the WA tax payer around $422m design/build + $359m to transport upgrades over a 25 year period.

It's a very complex deal.

http://www.abc.net.au/news/2015-06-11/new-perth-stadium-to-cost-more-than-$1.5-billion/6537308

http://www.perthstadium.com.au/news-and-information/fact-sheets/building-the-stadium


A DBFM is a long-term contract, typically 25 years from construction completion. Under a DBFM, the State will undertake a competitive process to engage a contractor to design and build the new facility. In addition, the contractor will procure debt and equity funding to finance construction, as well as undertake maintenance for the facility over an extended operating period.

Typical services provided under a DBFM model include maintenance of the structure, the roof and plant equipment. Stadium operating activities would not form part of a DBFM scope. This would be undertaken by the State or an organisation appointed by the State under a separate arrangement.

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Re: WA Stadium Deal

Post by Chambo Off To Work We Go on Wed Feb 10, 2016 1:49 pm

"DBFM Features

Under this procurement model the State will:

- Be the owner of the new Perth Stadium and surrounding land at all times.
- Control the new Perth Stadium (including the identity and terms of reference for the operator of the Stadium).
- Recognise the new Perth Stadium as an asset on the State’s balance sheet and directly contribute to capital funding.
- Be able to terminate the agreement at any time of its choosing (noting of course that this may entitle the private sector investor to a termination payment under certain circumstances).
- Receive the Stadium at the end of the 25-year operating phase without additional funding.
- Procurement Time Plan.

The top 2 dot points sound like government ownership and control to me.
Maybe the consortium retain the Design Build Finance Maintain contract.
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Re: WA Stadium Deal

Post by Booney on Wed Feb 10, 2016 1:54 pm

When I said "owned" I put the " " with good reason, the government may indeed own the stadium and the surrounding grounds, but they have almost zero control of the facility.

Westadium and now Stadium Management Australia control the cash coming in and out, which suppliers they choose to use, security managment, even the events it chooses to hold, while its a good financial model for the government, they've pretty much given it away for 25 years.

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Re: WA Stadium Deal

Post by bayman on Wed Feb 10, 2016 6:38 pm

too hard for me, tried reading all posts & i thought i was reading a political journal
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