NRL considers stadium ownership options
The NRL will explore stadium ownership opportunities that may result from its push for new suburban grounds to ensure it has an asset base that protects rugby league’s future.
Rugby League Central is campaigning for up to four “mini Bankwest Stadiums” to be built after the NSW Government
announced that it has abandoned plans for the $810 million redevelopment of ANZ Stadium.
the
Herald can reveal the NRL is investigating potential ownership possibilities that could arise.
The governing body currently doesn’t own a single asset, a shortcoming that has been exposed as the code responds to the financial fallout from the COVID-19 outbreak. The AFL bought Marvel Stadium in 2016, an acquisition that helped to secure a $600 million line of credit from Australian banks to provide emergency funds during the lockdown. The NRL
had to go offshore after Australian lenders deemed the code too big a risk given its perilous financial state and absence of assets.
Advertisement
It’s a situation the NRL wants to address to future-proof the game. Preliminary talks have begun with government officials about the game’s infrastructure needs and what would be an acceptable level of investment to justify the original agreement of keeping the grand final in the harbour city for the next 27 years.
The NRL will consider stadium ownership opportunities.Credit:AAP
The NRL is seeking up to new four stadiums similar in design to Bankwest, but with a reduced capacity of about 20,000 spectators. Officials feel fans are more likely to sign up as members and attend games if they are played in smaller, purpose-built stadiums. It is a major policy shift for the NRL after they originally sought to push clubs towards larger venues in a bid to drive membership.
Currently, Cronulla is the only club that owns its own stadium.
In his first press conference as ARLC chairman, Peter V’landys spoke about his desire to upgrade suburban grounds to acknowledge the tribal nature of the sport. If successful in lobbying the government to that end, head office will consider whether full or part ownership of some of the venues could provide long-term benefits for the code.
It would be a bold direction for an organisation that has been exposed for years of overspending and mismanagement during the coronavirus crisis.
After spending $500,000 a day to run its competition, the NRL is seeking to dramatically cut costs and explore new revenue streams.
Having just renegotiated its broadcast deal, the ARLC is expected to sign off on emergency funding to the 16 clubs later this week totalling about $100 million - $40 million more than was originally allocated.
https://www.smh.com.au/sport/nrl/nrl-considers-stadium-ownership-options-20200602-p54yuo.html
