View Poll Results: Of the two options for a National Stadium which do you prefer

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  • Water Front

    37 24.34%
  • Eden Park

    50 32.89%
  • Neither as rugby is boring

    65 42.76%
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Thread: Rugby Stadium

  1. #76
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    Debt sinks Stadium Australia - ANZ to take control for A$10m
    16 November 2006 www.stuff.co.nz

    SYDNEY: It was billed by then Olympics boss Juan Antonio Samaranch as the best stadium he had seen.

    Rugby great Mark Ella, Olympic hero turned banker Ralph Doubell, one-time union boss Michael Easson and former Seven chairman and McDonald's boss Peter Ritchie became directors of the venture that owned Stadium Australia, now called Telstra Stadium.

    But a decade after the disastrous float of Stadium Australia Group its banker, ANZ, will take control of the debt-laden stadium for next to nothing. In effect the bank has become a mortgagee in possession.

    Stadium Australia unit holders were unlikely to see their investment prosper, said John Clarke, head of ANZ Infrastructure Services.

    "They will never receive any distributions, they'll never receive any return on capital," Mr Clarke said.

    ANZ has offered $9.7 million, or 10c a unit, to take over the group, which has been recommended by the group's board. The offer was made at a discount to the trading price of the units, which closed yesterday at 11.5c.

    Stadium Australia Group owed the bank $140 million, according to its February full year accounts, an amount which it has been struggling to repay.

    The stadium float struggled from the outset when it sold only 10,782 gold memberships from a possible 34,400. The underwriters were left to take up the membership shortfall.

    For those membership holders, ANZ's Mr Clarke said their full membership rights will stand. He said there would be no changes to corporate, platinum or gold membership packages. "It will be business as usual," he said.

    Harvey Lister, chief executive of Ogden International Facilities Corp, which is the second largest shareholder in the Stadium Australia Group, said it would accept ANZ's offer.

    "We think it's deserving of support," he said. "It brings enormous certainty to the future financial structure of the group. The stadium has been an enormous success for Sydney and NSW."

    He said the stadium had been making an operating profit but was hamstrung by its bank debt. Other major unit holders include Deutsche Bank, ANZ, Coca-Cola Amatil and Macquarie Bank.

    "It needs a single owner without the costs of a listed public company," Mr Clarke said.

    ANZ will use the stadium as a seed asset for its social infrastructure trust, Diversified Infrastructure Trust, he said.

    It plans to add other infrastructure assets before selling stakes in the trust to wholesale fund managers.

    ____

    It's not only the $1,000,000,000 construction cost. If the Aussies can't keep a stadium full of fans we ain't going to be able to.

    I think it's a stupid waste of money for a stupid little boys game. Pitty the Japs didn't get the RWC.

  2. #77
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    Oh, $1,000,000,000 is $250 per man woman and child. A lot of families could do with an extra $1000 to help pay some bills.

    If NZRFU wants a stadium, they should pay for it with private money.

    I agree that it was a fantastic political diversion by Labour

  3. #78
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    C'mon Auckland, pull your head out of the sand!

    Auckland: "The City of sails" ???? Yes but in reality!!!!

    Auckland: "The City of indecision" Yes! Proven time after time.

    Unfortunately New Zealand is considered and judged by Auckland!

    Auckland fiddles while New Zealand burns! (Shades of Nero, Rome and history here?)

    Auckland is a nice place and the people are OK but they sure do piss about!

    Two stuffed up world cup attempts here and you will never hear another Irish joke again,.... ever!

    In fairness, (IMHO) Auckland's obvious weakness is being exploited for political expediency. Wake up Auckland! but Well I do! John.

  4. #79
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    I was hoping I'd get my say during the resource consent process.....

  5. #80
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    Quote Originally Posted by oldrider View Post
    Auckland: "The City of sails"
    I thought that Auckland was the City of Sales -- garage sales, car sales...
    "Standing on your mother's corpse you told me that you'd wait forever." [Bryan Adams: Summer of 69]

  6. #81
    No,it's the City of Salesmen.
    In and out of jobs, running free
    Waging war with society

  7. #82
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    I don't have an issue with a stadium on the waterfront. But there's no way they'll finish it on time. Didn't we like win the rights to host like a year ago?

    wtf have has the govt been doing since then.

    As it was said before, this is a great smoke screen for labour atm.

    -Indy
    Hey, kids! Captain Hero here with Getting Laid Tip 213 - The Backrub Buddy!

    Find a chick who’s just been dumped and comfort her by massaging her shoulders, and soon, she’ll be massaging your prostate.


  8. #83
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    Quote Originally Posted by Colapop View Post
    I seem to remember Winston coming out of coalition talks a couple of years ago and saying "This is a great day for NZ, this is a great day for Maori." Since when does the NZ population consist of solely Maori people? I'm of Danish decent and I was born here, why don't we make it a Long boat? Or an Outrigger? Or a Sampan? NZ is all manner of different people and cultures. Rugby (all though I'm a huge supporter) is not for everybody. If it came down to providing roading and infrastructure for Auckland or a new stadium, I would choose the former every time. This issue should be about the greater good not a one off event. The real picture here is a government who are serving their own needs and not those of the taxpayers.
    Or a commode-symbolic of this govt pissing our taxes away

  9. #84
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    Quote Originally Posted by Hitcher View Post
    I thought that Auckland was the City of Sales -- garage sales, car sales...
    I thought it was the other typo...City of Snails
    Do you realise how many holes there could be if people would just take the time to take the dirt out of them?

  10. #85
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    Dunno what else has been said in this thread, but:

    The thing will be a great big fuc'n white elephant...what a waste of money...

    Used for two games at full capacity, and then the decline in rugby crowds will continue as it has been, making the 10,000 people that turn up to an NPC game in Auckland look like even more of a joke sitting with even more unused seats around them.

    building at either site is a shit idea compared to upgrading North Harbour Stadium anyway.

    May as well just go for the cheapest option since it will be inhabited by homeless people once it gets neglected anyway.
    ...

  11. #86
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    Here in lies the problem us Kiwi's are an apathetic lot, or is that pathetic!
    We are so bloody negative, if any of our national sport teams looses we all have a 'Downer" and the economy suffers, yet we are loath to take the bull by the horns and go for it.
    The comments in this thread just confirm it.
    We live in paradise but a loath to get involved in protecting it and making it better as a whole.
    This maybe regarded as healthy debate by some but I feel it is all to negative and maybe us Kiwis are just a bunch of wankers.
    No doubt a number of you will complain when large events in the future do not come to NZ because we do not have a truly international stadium.....Perhaps this is our chance....think about it.
    The development of the Auckland waterfront would not have happened without the Americas Cup, no matter what you think of it.
    "Those who criticize our generation forget who raised it.

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  12. #87
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    Quote Originally Posted by WeeStromer View Post
    The development of the Auckland waterfront would not have happened without the Americas Cup, no matter what you think of it.
    Hear what you are saying, BUT taxpayer money wasn't used to pay for that development. There is a difference.
    The location is important, yes, but in real terms I think the funding is a bigger issue. And does the 'need' for such a stadium over-ride all other calls on such a massive amount???
    Do you realise how many holes there could be if people would just take the time to take the dirt out of them?

  13. #88
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    Priorities!

    I have no problem with the concept of the "National Stadium" but the RWC was won on the merits of Edin Park being upgraded.
    We (NZ) have been Taxed to death for Auckland's outstanding current roading problems etc etc etc.
    For me it is simply a matter of priority, get the things that have been on the back burner for bloody years "DONE" and then we can look at adventurous things like the National Stadium!
    I would like to buy a new bike but I have to consider the things that I "need" before I go and spend "our" money on things that "I" want!
    It is not the right time for the waterfront stadium, priorities dictate! John.

  14. #89
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    My first opinion on the preferred choice was Eden Park. This was mainly based on cost. But from a commercial point of view I am firmly of the opinion the the Waterfront proposal is the way to go. Prior and after events will tend to congregate into comercial centres for both food and drink. Secondly I see no reason why this area can not be adquetly served through a public transport system and in doing so reduce the amount of drunk drivers on the road and traffic congestion to for that matter.

    No one has as yet seen the plans for the waterfront proposal. There will be no noise issues for concerts etc. Seems to me to be an all round site for a National Stadium I am more concerned about my money going to the NZRFU when it could be better spent on a National Stadium. It's not an issue about Mallard, Clark etc. But on a New Zealand Stadium. The only priviso I would like to see is that it is not named after some corperate sponser. That would make a mockery of it being a National Stadium.

    Just out of curiosity I just posted up two options in the poll. Who put in the third one??

    Skyryder
    Free Scott Watson.

  15. #90
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    why do you think noise will not be an issue? There are a shit load of apartments and hotels around there. They already complain (a lot) about the noise from the Port, which is actually not at all loud. The Port has existing right usage, but a stadium wouldn't. I doubt that noise control would be any more relaxed than anywhere else.
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