Any idea what the government will make off Parra stadium per year?
A lot was said about spending 300 mill. However this created jobs which paid tax so not really 300 mill.....
But what will they recoup?
Good question.
It all depends on the return they get which will come down to running costs and investment vs income.
It clearly comes down to how many events they can encourage to use the venue which creates the income stream.
As I see it, there are currently 3 NRL clubs who want to use it.
Eels 10 games.
Tigers - 3 games.
Bulldogs - 1 game.
Then there is the Waratahs - 3 games.
Wanderers - 13 games.
Wanderers - W-League - 6 games.
Wanderers FFA Cup - possible 3 games.
Wanderers future ACL matches - unlikely in the short term but possible.
That's 33 events just in the first year, not including Eels matches which will overlap the Wanderers season in 2020, so possibly another 4 matches.
So, say 37.
At a rough guess, hire costs could be $100 k per game, (although probably less for W-League games).
So, could be conservatively $3.5 million of income from sport.
Then, there could be concerts, hiring out to out door events like caravan and camping shows, concerts etc....
Maybe another million in income. So, $4.5 million
Then, there is Bankwest's naming rights, catering income, advertising on signboard naming rights around the stadium, corporate functions etc... Maybe another $2 million.
$6.5 million in income per year
I'm only guessing at the following, but the stadium could easily cost $3 - 4 million a year to run. Maybe more.
It might run at a small profit, but it won't be a money spinner for the govt.
The greater income will come from the benefit to the local community. Jobs created, local community expenditure (Eat St, Leagues Club, Peter Wynn's, Westfield, etc) .... where people will spend money on game days. It will create jobs and workers pay tax. There are other variables that also provide benefits to the state govt.
I remember reading of a study done that claimed the Wanderers added $20 million to the local economy each season. I'm sure that the Eels would add more than that.
It's not just about the stadium. It's also about the gains to the local economy.