Tag Archives: Citibus

Asset sales (remember the days)

One of our correspondents supplied copy today of an email by Tim Calder, sent to the Our Stadium mailing list (May 2007).

Note the mention of asset sales in the paragraph we have highlighted.

The correspondent says: “It is obvious that the original plan when they pushed the stadium was to partly fund it from asset sales. I also remember Malcolm Farry and Damien Newell (fawning over Farry) on the Ch9 debate back in 2007 talking about selling Citibus and City Forests. People shouldn’t be surprised about asset sales.”

Tim Calder is now based in London, working as an analyst for Aviate Global [financial services]. His personal profile notes past positions as chief executive at EZY STOR Self Storage, general manager at Willowbank Quarter, International Trade at Otago Chamber of Commerce. Educated at University of Otago. His blog has not been touched since 2009.

—– Original Message —–
From: Our Stadium
To: supporters@ourstadium.co.nz
Sent: Wednesday, May 16, 2007 3:58 PM
Subject: [Our Stadium] Our Stadium News Update 16 May 2007

NO STADIUM MEANS… NO MORE TEST MATCHES AND GOODBYE HIGHLANDERS FRANCHISE

Join the positive and proactive www.ourstadium.co.nz to keep international rugby in Otago and help create an on-going future for the city, the university and the next generation of young people.

National TV News and Radio have been carrying the headline over the last few days that Otago will lose the Highlanders Super 14 franchise within three years unless a new stadium is built. Already Dunedin has lost test matches. The threat to the Highlanders is real and if you care you need to act now.

So what’s the significance for people in the region? The answer is plenty. Rugby is a national and international event that gets screened into households throughout New Zealand and around the world. Without All Black tests and the Super 14 showcase Otago will fall of the radar. Without rugby there will be no stadium. Neither Carisbrook as it stands, nor the new covered Logan Park complex will exist.

Why is that important for people who don’t follow rugby? The answer lies in the region’s biggest employer – the University of Otago. Seventy percent of students come from outside the region. They bypass six other first class universities, dozens of polytechnics and pay many thousands of dollars more to come to Otago. Without rugby to keep Otago on the map for prospective students, and with other universities stepping up their marketing, this trend could easily be reversed.

What difference will a few students make? Plenty. The economic benefit generated from each student is more than $60,000 a year. Do the maths yourself. One hundred fewer students is $6 million less for the region. One thousand is $60 million. Once a trend starts it will be hard to stop.

But the ratepayers of Dunedin can’t afford to pay for the new stadium? There has been an enormous amount of hype around the cost to ratepayers. The Otago Daily Times figures are $1.13 a week for an average householder. Our Stadium acknowledges even this amount is significant for some homeowners and a member of the executive team is working on ways to lower this cost to individuals who need it. We also don’t know how Dunedin City will fund its share. DCC may in fact exchange an asset like their forest for the stadium, or reprioritise their asset programme, which may reduce the individual cost to ratepayers even further.

Why should rugby get such a huge handout when it’s professional? The beauty of the stadium is that it’s not exclusively for rugby. It is multi-use and with the completely covered pitch it will be the second largest indoor venue in the southern hemisphere, second only to Melbourne’s Telstra Dome. This means it becomes more internationally marketable than any other stadium in New Zealand. In addition, part of the complex will used by the University meaning it will be in use seven days a week, rather than just for an 80 minute rugby match. Being covered also makes it attractive for conferences and exhibitions.

Could everyone that receives this email please forward it to your entire address book. For those of you that indicated that you would volunteer your time could you please make an effort to sign up at least 10 new members. Nobody is too young or old to have a say so if your children, parents, friends or colleagues are supportive get them to sign up. Our membership database will be used to show the council the support there is for the proposed multi purpose Stadium. So keep those new members rolling in.

IF YOU CARE ABOUT THE FUTURE OF YOUR CITY AND YOUR REGION
JOIN UP ON LINE WWW.OURSTADIUM.CO.NZ

Tim Calder
Secretary
Our Stadium Visionaries Club Inc.

Posted by Elizabeth Kerr

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