Daily Archives: February 15, 2012

Carisbrook sale

### ODT Online Wed, 15 Feb 2012
Sale of Carisbrook poses a million-dollar mystery
By Steve Hepburn
Call it the confusing case of the mystery million. The cash-strapped Otago Rugby Football Union says it received $6 million for the sale of Carisbrook in 2009, and a university academic confirms the sale is listed as $6 million in the union’s books. But the Dunedin City Council, which bought the ground, and two former Otago union officials maintain the figure was $7 million. The union is battling financial problems, with Jeremy Curragh appointed as change manager, and the New Zealand Rugby Union lending it money to keep operations going.

University of Otago professor of accounting David Lont confirmed, after looking at the union’s annual report, the sale of Carisbrook was listed as a $6 million transaction. If indeed $7 million was the sale price, it was not recognised in the initial accounts or subsequent accounts, he said.

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Posted by Elizabeth Kerr


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