Both items supplied.
ClarkeAndDawe 7 May 2014
Clarke and Dawe – Some steadying words on the current situation
“Robin Peter, Payments Officer with the Australian government.” Originally aired on ABC TV: 08/05/2014
[Quote: ‘Remind you of anything? DVML, DVL… Liu & Woodlouse… Very timely!’]
****
A Simple Idea for PSF (Farry’s Folly)
ODT 8.5.14 In Brief (DCC DAP) – page 13
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Posted by Elizabeth Kerr
Filed under Business, Concerts, Construction, DCC, Democracy, DVL, DVML, Economics, Events, Fun, Highlanders, Media, Name, New Zealand, ORFU, People, Politics, Project management, Property, Site, Sport, Stadiums, What stadium
Image: The Marketing Bureau
### dunedintv.co.nz February 24, 2014 – 7:16pm
Stadium proud of numbers despite opposition and projected losses
The Forsyth Barr Stadium is crowing over numbers through its gates, as the DCC debates a projected $1.4m loss for the facility.
Meanwhile, a stadium opponent is calling for reports from 2008 she says backed claims the stadium would run at a profit.
Ch39 Video
24 February 2014
Reports tabled at the meeting of the Dunedin City Council:█ Report – Council – 24/02/2014 (PDF, 566.6 KB)
DVL Financials for the Six Months Ended 31 December 2013█ Report – Council – 24/02/2014 (PDF, 638.8 KB)
DVML Financials for the Six Months Ended 31 December 2013█ Report – Council – 24/02/2014 (PDF, 47.8 KB)
Statements of Intent – DCHL Group Plus DVL and DVML█ Report – Council – 24/02/2014 (PDF, 276.4 KB)
Statements of Intent – Dunedin Venues Ltd█ Report – Council – 24/02/2014 (PDF, 284.1 KB)
Statements of Intent – Dunedin Venues Management Ltd
****
Media Release
Bev Butler
Monday 24 February 2014
TIME FOR SOME PLAIN, HONEST ANSWERS
Dunedin ratepayers are being informed by Sir John Hansen, Chairman of both Dunedin Venues Management Ltd and Dunedin Venues Ltd, that the projected $10,000 operating profit forecast for 2014-15 is now forecast to be a $1,400,000 loss, with similar or even greater losses forecast in future years. He puts this staggering reversal in fortunes down to the reality of costs of running the stadium, and few events occurring at the stadium.
But even these revelations don’t tell the full story of this stadium debacle and financial scandal.
Accompanying the annual injection of well over $9 million to run the stadium, are all of the costs of servicing the debt to build the stadium. Because these costs reside within DVL, they are not reported on in the DVML forecasts.
However some very basic questions remain unanswered.
Readers of the Otago Daily Times will recall a full-page advertisement placed by the Carisbrook Stadium Trust on the 31st of May, 2008, at the time the stadium project was being considered. Headed up “The Facts about the new Stadium”, it said: “The stadium will be profitable. The funding target establishes a debt free stadium. On this basis the business plan for the stadium shows that it makes a profit. Unlike nearly all other Council owned facilities it will not need annual funding support. This assessment has been confirmed by two of New Zealand’s leading accountancy firms.”
These statements are unequivocal and cannot be misinterpreted.
Bev Butler has, for over a year, had an official request in to Mr Malcolm Farry, Chair of the Carisbrook Stadium Trust, to supply the names of those two leading accountancy firms and for the documentation supporting the validity of the claims to build a debt-free stadium and for it to run at an annual profit. Mr Farry has so far failed to deliver that information as required under the requirements of the LGOIMA.
“Mr Farry leaves me no choice but to submit an urgent complaint to the Office of the Ombudsman. There is no reason whatsoever why Mr Farry shouldn’t supply this information, if it exists. Mr Farry has breached the requirement under LGOIMA to supply this information,” said Bev Butler.
How much notice was taken by members of the public and those Councillors and others who were considering whether it made sense to build a new stadium? Perhaps hard to assess. But surely it must not be too hard for Mr Malcolm Farry to reveal to Dunedin ratepayers just how it was that they would have a debt-free stadium and an annual profit instead of a stadium that is millions in debt and costing ratepayers further millions in its staggering operational losses.
[ends]
[click to enlarge]
—
Related Posts and Comments:
22.2.14 Carisbrook Stadium Trust costs
2.2.14 Stadium: ODT editorial (1.2.14) —Garbutt debunks myths
1.2.14 Stadium: ODT editorial (1.2.14) —“Palpable claptrap” says Oaten
27.1.14 Stadium: No 4 at interest.co.nz
24.1.14 Stadium: It came to pass . . .
For more, enter *cst*, *carisbrook stadium charitable trust*, *carisbrook stadium trust*, or *dvml* in the search box at left.
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Posted by Elizabeth Kerr
Filed under Business, Construction, CST, DCC, Democracy, Economics, Geography, Highlanders, Media, Name, New Zealand, ORC, ORFU, People, Politics, Project management, Property, Site, Sport, Stadiums, Town planning, University of Otago, Urban design, What stadium
16 January 2014
See this image full size and other recent work by Tremain at http://garricktremain.com/cartoons/
—
Posted by Elizabeth Kerr
blog.svconline.com
The trials of the Phoenix Coyotes, the least popular hockey team in the NHL, offer a lesson in public debt and defeat.
### theatlantic.com Sep 7 2012, 2:37 PM ET
Business
If You Build It, They Might Not Come: The Risky Economics of Sports Stadiums
By Pat Garofalo and Travis Waldron
In June, the city council of Glendale, Arizona, decided to spend $324 million on the Phoenix Coyotes, an ice hockey team that plays in Glendale’s Jobing.com Arena. The team has been owned by the league itself since its former owner, Jerry Moyes, declared bankruptcy in 2009. For each of the past two seasons, Glendale has paid $25 million to the league to manage the Coyotes, even as the city faced millions of dollars in budget deficits. Now, Greg Jamison, who is also part of the organization that owns the NHL’s San Jose Sharks, is making a bid for the team, and would therefore be the beneficiary of the subsidies.
“Take whatever number the sports promoter says and move the decimal one place to the left. Divide it by ten. That’s a pretty good estimate of the actual economic impact.”
To put the deal in perspective, Glendale’s budget gap for 2012 is about $35 million. As the city voted to give a future Coyotes owner hundreds of millions of taxpayer dollars, it laid off 49 public workers, and even considered putting its city hall and police station up as collateral to obtain a loan, according to the Arizona Republic. (The latter plan was ultimately scrapped.) Overall, Glendale is not only on the hook for $15 million per year over two decades to a potential Coyotes owner, but also a $12 million annual debt payment for construction of its arena. In return, according to the Republic, the city receives a measly “$2.2 million in annual rent payments, ticket surcharges, sales taxes and other fees.” Even if the Coyotes were to dominate the league like no other in recent memory and return to the Stanley Cup Finals year after year, the city would still lose $9 million annually.
“It’s kind of a perverse argument that taxpayers should subsidize this because businesses depend on this deal that isn’t viable.”
This is an altogether too common problem in professional sports. Across the country, franchises are able to extract taxpayer funding to build and maintain private facilities, promising huge returns for the public in the form of economic development.
Read more
[Link supplied]
—
Posted by Elizabeth Kerr
Filed under Architecture, Business, Construction, Design, Economics, Events, Geography, Media, Project management, Property, Site, Sport, Stadiums, Urban design
Who is liable for this situation?
A letter to the editor by Russell Garbutt appears in the Otago Daily Times today, he asks [excerpts]:
• Who takes responsibility and accountability within council for ignoring the very specific warnings from a large number of ratepayers that the whole “private funding” model now described by Mayor Cull as “stupid” was exactly that?
• Finally, who takes responsibility and accountability within the DCC and the CST for not knowing that their close business partner, the ORFU, was insolvent and had been living on pokie funds and hope for many years?
Read the full letter here.
****
Stadium trust’s negotiations and contracts soundly based
Malcolm Farry, chairman of Carisbrook Stadium Charitable Trust endeavours to “clarify the issues” [excerpts]:
• At 4.54pm on Thursday, February 5, 2009, the CST signed a venue hire agreement with ORFU and the Highlanders.
• The negotiations had been a drawn out affair and the CST was forced to take a very tough, uncompromising position. The ORFU and Highlanders naturally resisted this position, so eventually, we engaged an accounting consultant to consider the position of all parties. He provided recommendations, a model for the future and a compromise as to the costs of the required seats.
• These proposals were accepted by all parties.
• Jim Harland, then chief executive of the Dunedin City Council, took over all future discussions and negotiations with the ORFU and Highlanders.
• The private sector fundraising was clearly stated to be based on the sale of membership seats and corporate suites, sponsorship and the sale of naming rights. This programme was first outlined at the first public presentation held at the Southern Cross Hotel on August 11, 2006. The CST has never moved from this position.
• The CST lost the role of operator, so it was never to apply its passion, expertise, local knowledge and commitment to the operation and management of the completed stadium. That role fell instead to the new company DVML.
• The CST has now completed what it was asked to do by the Dunedin City Council and the Otago Regional Council. Many people love the results, some continue to oppose. There is no doubt, however, that, after the passage of time, all will eventually unite as one in support for this remarkable addition to our city and region.
Read the full reply here.
—
What can we make of this, the full opinion piece? Mainly, we see an effort by Mr Farry to rewrite history, shift blame, and spice up the reader’s day with new information for further discovery, thrown in for worse effect. How interesting.
—
Posted by Elizabeth Kerr
What does CST’s Malcolm Farry say now, you have to ask.
### ODT Online Tue, 28 Feb 2012
Doubts over private sector funding for stadium
By David Loughrey
The future of “private sector funding” for the Forsyth Barr Stadium may be thrown into question by the shock announcement last night the Otago Rugby Football Union (ORFU) could fold by the end of the week. Dunedin Venues Management Ltd (DVML), the Dunedin City Council-owned company running the stadium, has sold season tickets on the expectation an Otago team would play at the stadium in the ITM Cup.
Read more
****
### ODT Online Tue, 28 Feb 2012
DCC in queue of creditors
By Chris Morris
The Dunedin City Council seems set to join a queue of worried creditors after confirming it is owed more than $400,000 in unpaid rent by the Otago Rugby Football Union. However, any prospect of a last-minute bail-out by the council appears to have been ruled out, with council chief executive Paul Orders and Mayor Dave Cull last night in unison about there being no city council plans to save the union.
Mr Orders said the Otago union had a “proud history” and liquidation would “clearly” have implications for the Forsyth Barr Stadium, although the extent of these was as yet unclear.
—
Posted by Elizabeth Kerr
The following correspondence was received from Bev Butler today.
ODT 28/2/07 front page as follows:
Man offers $1 million donation
By Allison Rudd
One person has offered a $1 million donation towards a multipurpose stadium to replace Carisbrook, the chairman of Carisbrook Stadium Trust, Malcolm Farry, says.
He told a public meeting, attended by about 120 people last night, he had received “very significant news today about one huge donation and two others in the wings” which could help meet the $188 million cost.
After the meeting, he said the $1 million donation was from a man whom he could not yet name.
The man had indicated he had associates who were also prepared to talk to the trust about making similar sized donation.
Mr Farry said he was “very excited” about the level of support being offered for the proposal, particularly yesterday’s development.
“Let’s say it made my day.”
—
Letter to editor (published 22/02/10 Otago Daily Times). The italicised parts were abridged.
Friday 29th January 2010
Dear Editor
It is now nearly three years since it was reported in the ODT (28/2/07) that Malcolm Farry, Chair of Carisbrook Stadium Trust, told a public meeting he had received “very significant news about one huge donation ($1 million) and two others (similar size) in the wings”. Mr Farry said the $1 million donation was from a man whom he could not name yet. Mr Farry said he was “very excited” and it had “made my day”.
Maybe it is now time for Mr Farry to reveal the identities of these alleged donors and let us know if the money has been banked.
Maybe Mr Farry could also give us an update on all donations received for the stadium.
Yours sincerely
Bev Butler
Macolm Farry’s response in today’s ODT:
“As at February 2010, Carisbrook Stadium Trust has secured private-sector funding in excess of $30 million in memberships and sponsorship. The trust does not publish the names of its members, sponors [sic] or donors without their agreement. Last year, we announced the head naming rights sponsor, Forsyth Barr, and we will announce further sponsors in future when they elect to do so.”
National Business Review (3/03/07) by Mark Peart
“Two individuals had pledged about $1 million each to the project since learning of the release of the trust’s feasibility report and “master plan” on February 19.
Several other potential donors had also expressed interest in making major, but unspecified, contributions to the project, should the trust’s preferred option be accepted, Mr Farry said.”
—
From: bev butler [mailto:bevkiwi@hotmail.com]
Sent: Monday, 22 February 2010 11:19 a.m.
To: mfarry@farrygroup.co.nz
Cc: murray kirkness; david loughrey; chris morris; craig page; michelle sutton; Mike Houlahan (DSC); david williams; robert smith; nbreditor; nbrnewseditor; emma lancaster; katrina bennett; pete hodgson; clare curran; john key; rodney hide; bill english; metiria turei; michael woodhouse; mark hotton; darren burden
Subject: Dunedin Stadium alleged donors: Serious Questions left unanswered (Note change in Mr Farry’s email address)
Importance: High
{private address and phone number deleted -Eds}
Monday 22nd February 2010
Dear Mr Farry
Your response, after three weeks, to my ‘letter to the editor’ (copied below) is completely inadequate.
Firstly, you have avoided responding to the reasonable request for an update of donations. It was revealed in October 2008 (Sunday Star Times) that the donations total was $30. That was the last update we received – upon inquiry.
You have also avoided responding to my query as to whether the several $1 million alleged donations have been banked.
Remember we are not talking about ‘products or sponsors’, but ‘donors’. That is what my query was about and that is what you avoided responding to.
I believe the public have a right to know if the donors actually existed to begin with and if so, do their promised donations, which you so excitedly announced in March 2007 (ODT and NBR), still stand? And if so, why haven’t the donors been happy for their names to be made public now that the stadium is being built? Surely their excitement would be as great as yours and they would proudly want their names out there supporting the project and thereby assist the marketing programme for the stadium.
If these alleged donors have withdrawn their promised donations, why have the public not been informed?
I note in the DCC’s recent media release (19/02/10) the Carisbrook Stadium Charitable Trust’s (CSCT) responsibility is quite clear, namely:
“CSCT will continue to operate as a charitable trust to solicit and receive donations and distribute them in accordance with the purposes of its trust deed.”
Also would you please confirm or deny that these alleged donations were used to help secure the $15 million ‘gift’ from Central Government for the shortfall in private funding?
Yours sincerely
Bev Butler
Former President
Stop The Stadium Inc
—
From: mfarry@farrygroup.co.nz
To: bevkiwi@hotmail.com
Subject: RE: Dunedin Stadium alleged donors: Serious Questions left unanswered [Note change in Mr Farry’s email address]
Date: Mon, 1 Mar 2010 16:33:44 +1300
Good Afternoon Ms. Butler,
While you have a series of questions we have not, however, conducted the fundraising in the manner that your enquiries would suggest.
There is no difference between donations, sponsorships, sale of product and funds raised. All have a donations component included. Your wish to distinguish between donors, sponsors and purchasers of product indicates a misunderstanding on your part as to the manner of our fundraising
There are several amounts in excess of $1M. As stated in earlier communications, acknowledgements of the individuals and organisations will be made public on the agreement of the parties to so do.
Parties involved have been very supportive of and excited about the project and to have gathered in excess of $30M under the circumstances and in the time involved is quite remarkable. I am sure this has never been equalled in our region and perhaps not even in New Zealand.
It seems unfortunate that you consider it necessary to continue your onslaught against the project when, surely, it would be in the interests of Dunedin and Otago if you put your energies into ensuring the project is a success.
Yours sincerely,
Malcolm Farry
Chair,
CST.
NB The report of $30 being received was in error.
The claims that the Stadium would be paid for from private funds is incorrect and mischievous.
—
From: bev butler [mailto:bevkiwi@hotmail.com]
Sent: Friday, 5 March 2010 9:56 a.m.
To: malcolm farry
Subject: RE: Dunedin Stadium alleged donors: Serious Questions left unanswered
Friday 5th March 2010
Dear Mr Farry
You have stated in your reply the following:
“There is no difference between donations, sponsorships, sale of product and funds raised. All have a donations component included. Your wish to distinguish between donors, sponsors and purchasers of product indicates a misunderstanding on your part as to the manner of our fundraising.
There are several amounts in excess of $1M.”
I agree with you, Mr Farry, I do not understand the manner of your fundraising as outlined above. Would you please be so kind as to clarify what is the percentage of the donation component which you claim your products and sponsorships contain? A good definition of donation is as follows: A payment is a “donation” if the payer receives no direct benefit in return.
I would also appreciate a direct answer to my original questions as to whether the several amounts of $1m are in fact ‘donations’ and have these ‘donations’ been banked? This shouldn’t be difficult to answer directly. Quite simply: Are the several amounts of $1m actual ‘donations’? Yes or No. Have these donations been banked? Yes or No.
I also note that you have not responded to this question either: “Also would you please confirm or deny that these alleged (ie $1m) donations were used to help secure the $15 million ‘gift’ from Central Government for the shortfall in private funding?”
My continuing interest in the project is purely to keep everything as transparent as possible. Surely you have no objection to this? Surely this could not be perceived as ‘mischievous’ – a word you have used more than once when faced by close questioning by people of the CST/DCC’s affairs.
As for the $30 donation you now say is in error, Mr Hedderwick did confirm to me back in 2008 in an email that the $30 was not a mistake. Mr Hedderwick, Commercial Manager of CST, and Mr Ewan Soper, former CEO of CST, both acknowledged the $30 donation and it was reported in both the Sunday Star Times and then the ODT. The CST have also reported it to the Charities Commission in their Financial Statements.
Yours sincerely
Bev Butler
—
From: mfarry@farrygroup.co.nz
To: bevkiwi@hotmail.com
Subject: RE: Dunedin Stadium alleged donors: Serious Questions left unanswered
Date: Tue, 16 Mar 2010 18:04:28 +1300
Good Afternoon Ms Butler,
I have provided you with the answers to your questions Any further elaboration would be unproductive.
Monies announced publicly are secured by legal contracts and payment protocols are a part of those agreements.
We have publicly documented the quantum of funds. They are in excess of $30 million at this stage These amounts have been verified. I fail to understand how we can be more transparent than that. Attempts to do that in the past have resulted in misunderstandings such as the thirty dollars you mention. I am sure that nobody could possibly believe that we have only raised this amount
For the record and as I have stated previously there are amounts contracted where the quantum is for $1M and greater
Yours sincerely,
Malcolm Farry
—
From: bevkiwi@hotmail.com
To: mfarry@farrygroup.co.nz
Subject: RE: Dunedin Stadium alleged donors: Serious Questions left unanswered
Date: Sat, 20 Mar 2010 20:19:54 +1300
Dear Mr Farry
You have not answered my questions about the $1m donations you personally announced, very excitedly, through the media three years ago.
Your persistent avoidance in confirming whether the $1m donations exist is unproductive and can only lead me to one obvious conclusion that the donations do not exist and they probably never did.
Your description of the original $1m ‘donations’ has transformed to ‘amounts’ then to ‘quantums’.
I find this latest description quite apt considering that in Quantum Physics a “quantum is the minimum unit of any physical entity involved in an interaction” (Wikipedia) ie virtually non-existent in the physical world. Note that donations are physical gifts involving the transfer of actual money from one or several sources to another.
Now that you have confirmed that the several $1m donations are not donations, you must realise you are now in a moral quandary.
Your plea below for me to put my “energies into ensuring the project is a success” is curious. You have always asserted that the stadium will be an unqualified success.
I take it that even you now have doubts.
Yours sincerely
Bev Butler
—
Posted by Elizabeth Kerr
Filed under Architecture, Construction, CST, Design, Economics, Media, People, Politics, Project management, Stadiums
One thing is certain, Malcolm Farry is confused.
### ODT Online Mon, 26 Sep 2011
$2.75 million donated to stadium: manager
By David Loughrey
The vexed issue of the level of donations the Forsyth Barr Stadium has attracted may have to stay vexed, the matter complicated by various interpretations of the definition of “donation”. The matter has been controversial since early on in the project, when, in 2008, Dunedin Venues Management Ltd commercial manager Guy Hedderwick suggested just $30 had been received. The matter was raised again at a recent Dunedin City Council finance, strategy and development meeting, and he then raised a figure of $330,000. Asked recently to clear up the issue, he said that related to just one donation. Instead, the total of donations stood at $2.75 million.
[Carisbrook Stadium Trust (CST) chairman Malcolm Farry] noted DVML has taken the total of private sector funding raised through the sale of seating packages and sponsorship towards $50 million.
Mr Hedderwick said donations had already been included in the private sector funding total for the stadium, which stood at $42.8 million in August.
Read more
—
Posted by Elizabeth Kerr
Filed under Architecture, Construction, CST, DCC, DCHL, Design, DVL, DVML, Economics, People, Politics, Project management, Site, Stadiums
UPDATED
The Carisbrook Stadium Charitable Trust (CST) states that sources of project funding for design and construction of Forsyth Barr Stadium include:
Private Sector Funding of $31 million (from a total of $45.5 million).
Last week, Guy Hedderwick, commercial manager at Dunedin Venues Management Ltd (DVML), in reply to a question from Cr Lee Vandervis confirmed that the donations total was still “around $330,000”.
Only $330,000 raised of the tens of millions required.
Meanwhile, Dunedin City Council has been forced to raise debt to meet the massive shortfall and is required to pay interest on this debt.
The Carisbrook Stadium Charitable Trust has serious work to do.
—
The Trust, at its Funders webpage, states the University of Otago will contribute $10.0 million of project funding for stadium design and construction.
Cr Lee Vandervis says “My clear understanding is that the University of Otago is not allowed to fund such things as the stadium, and that not one single dollar of university funding has built the stadium. They have merely built a university building on adjoining land next door.
“While I was on Council in 2007, Malcolm Farry, chairman of the Carisbrook Stadium Trust, said there would be $10m worth of ‘synergies’ between the University Plaza building and the stadium, but when I questioned harder these synergies turned out to be bull-dust.”
Cr Vandervis might care to check the construction and or architectural synergy between the stadium and the university building, and how the associated costs were met.
—
Posted by Elizabeth Kerr
Meeting – Monday 5 September 2011, 1.00 PM
Edinburgh Room, Municipal Chambers
Agenda – FSD – 05/09/2011 (PDF, 61.3 KB)
Report – FSD – 05/09/2011 (PDF, 172.3 KB)
Business Support Funding – Summary up to Period Ending June 2011
Report – FSD – 05/09/2011 (PDF, 175.5 KB)
Dunedin Visitor Economy Strategy Group
• Report – FSD – 05/09/2011 (PDF, 105.0 KB)
Forsyth Barr Stadium Debt Servicing Plan
Report – FSD – 05/09/2011 (PDF, 2.3 MB)
Stadium Precinct Executive Summary
Report – FSD – 05/09/2011 (PDF, 78.4 KB)
Filming Location Fee Policy
Report – FSD – 05/09/2011 (PDF, 562.8 KB)
Financial Result – 1 Month to 31 July 2011
Report – FSD – 05/09/2011 (PDF, 134.0 KB)
Funding to City Funding Safety Programme
Report – FSD – 05/09/2011 (PDF, 144.8 KB)
Targeted Rate for Earthquake Strengthening
Report – FSD – 05/09/2011 (PDF, 254.3 KB)
Octagon Free Wireless
Report – FSD – 05/09/2011 (PDF, 546.7 KB)
Dunedin Healthy Homes Initiative
Report – FSD – 05/09/2011 (PDF, 45.8 KB)
Waipori Fund – Report for Quarter Ending June 2011
• Report – FSD – 05/09/2011 (PDF, 340.5 KB)
Increased Capital in Dunedin Venues Management Limited and Dunedin Venues Limited
[DCC Link]
—
Posted by Elizabeth Kerr
The Dunedin City Council Finance Strategy and Development Committee meets on 07 February 2011
Agenda – FSD – 07/02/2011 (PDF, 32.3 KB, new window) [other reports]
Report – FSD – 07/02/2011 (PDF, 947.5 KB, new window)
Stadium Precinct Executive Summary 12
The average daily workforce at the site had dropped to about 150.
****
Subtitled at ODT Online as ‘Behind the scenes at the stadium’ . . .
### ODT Online Sat, 5 Feb 2011
Private sector funding tops $38 million
By David Loughrey
Private sector funding for the Forsyth Barr Stadium, being raised though the sale of seating packages and sponsorship, reached $38.1 million by the end of last year, the latest report on the project says.
Read more + Photos
—
Posted by Elizabeth Kerr
Filed under Architecture, Construction, Design, Economics, Politics, Project management, Site, Sport, Stadiums, Urban design
The Star community newspaper carried an update on private sector funding and sponsorship in early February.
### ODT Online Tue, 16 Feb 2010
Stadium funding passes $30 million
By David Loughrey
Private sector funding for the Forsyth Barr Stadium has passed $30 million, with sponsorship packages and seating sales pushing funding to two-thirds of the total required.
Read more
Related post:
5.2.10 Commercial manager Guy Hedderwick on stadium sponsorship
Post by Elizabeth Kerr
Filed under Construction, Economics, Politics, Project management, Site, Stadiums
### The Star February 4, 2010 (page 3)
Sponsorship deals ‘ahead of’ target
By James Boucher
Despite a less-than-ideal economic climate, the Forsyth Barr Stadium is ahead of where it expected to be in sponsorship deals, stadium commercial manager Guy Hedderwick says.
In addition to the main naming rights, “sponsorship opportunities” related to the Forsyth Barr Satdium to date included three supplier sponsorships, as well as agreements in place for the stadium’s east stand and entrance foyer. Negotiations were under way for the stadium’s two level-four lounges, Mr Hedderwick said. Although opportunities were still available, the stadium was close to meeting the only real sponsorship milestone it faced.
“We have to reach $30.3 million to cover the private-sector sales, and everything over that goes back into operational revenue. At the moment, we are sitting at the $29.84 million mark, so I’m confident we’ll hit our target. We know who we’ll be pitching the remaining opportunities to and we’ll be making contact with some of them in the next couple of days.”
{continues}
The full article is available in print and online editions of The Star.
—
Posted by Elizabeth Kerr
Filed under Economics, Project management, Stadiums
@ForBarrStadium
Forsyth Barr Stadium 65% of Private Sector Funding Raised as at today:) YAY we getting closer to our target http://bit.ly/5rHqZN
Post by Elizabeth Kerr
Filed under Economics, Project management, Stadiums
### ODT Online Wed, 8 Apr 2009
Chin responds to stadium questions
By David Loughrey
A meeting organised by Stop the Stadium at the Dunedin Town Hall last week, and attended by 1800 people, raised many questions. The Otago Daily Times put several of these to Dunedin Mayor Peter Chin last week and he answered yesterday. His responses to council reporter David Loughrey, with additional comments from council chief executive Jim Harland, are published today and tomorrow.
Read More Online Here…
Go to answers and other comments at ODT
More in ODT tomorrow.
### ODT Apr 3, 2009 (In brief, page 3)
Stadium answers soon
Dunedin Mayor Peter Chin has undertaken to fully answer a series of questions about the stadium.
The questions and answers, relating to issues including private sector funding, a guaranteed maximum price, agreements with the Otago Rugby Football Union and the University of Otago, were to have been published tomorrow, but Mr Chin said he would be out of Dunedin on council business, and could not “do them justice” until after that.
The Otago Daily Times will publish his response next week.
![Stephen Cairns, ORC 25.9.10 [odt.co.nz].](https://dunedinstadium.wordpress.com/wp-content/uploads/2009/03/stephen-cairns-orc-25-9-10-odt-co-nz-e1381787086923.jpg)
### ODT Online Tue, 3 Mar 2009
Stadium: Cairns gets crucial call
By Mark Price
A confidential telephone call to Otago Regional Council chairman Stephen Cairns yesterday may have delivered the help needed to get the Otago Stadium project over another critical funding hurdle.
Mr Cairns, who is in favour of the stadium, would not tell the Otago Daily Times who the call was from or what was said, but he appeared positive.
Just over a fortnight ago, the council confirmed its $37.5 million contribution to the $198 million-dollar project. One of its conditions was that it receive an “assurance acceptable to council” that $15 million from the Government or other sources had been found to cover a shortfall in private-sector funding.
Read more
—
Posted by Elizabeth Kerr
*Image: odt.co.nz – Stephen Cairns, ORC
Filed under Architecture, Business, Construction, CST, DCC, Economics, Media, Name, ORC, Other, People, Politics, Project management, Property, Site, Sport, Stadiums, Town planning, Urban design
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