Surge in Private funding

From the ODT Sat 20 Dec

Carisbrook Stadium Trust chairman Malcolm Farry is feeling buoyant after a $1.9 million surge in private sector funding for Otago Stadium in the past week.

Contracts for lounge memberships and other deals signed and returned in the past few days have boosted the trust’s private funding total for the stadium project to $8.7 million, up from $6.8 million last Friday.

Mr Farry said the result followed a series of successful sales meetings in Dunedin during the past few days.

One gathering of friends had snapped up 22 lounge memberships – for $1500 plus GST a year each – following a meeting with trust staff on Tuesday, and 26 more were purchased in a similar fashion on Wednesday, he said.

Another $13.5 million was expected to be confirmed, through $4 million in “pending” membership products and corporate suites and $9.5 million in sponsorships in “advanced discussions”, he said.

Once signed, the contracts would raise the private sector tally to $22.2 million, just $6 million short of the $28 million target the trust needed to reach by February.

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Filed under Economics, Hot air, Media, Stadiums

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