A new estimate suggests Hobart's proposed AFL stadium could lose about $300 million over 20 years — but Tasmania's premier says it will be an economic and cultural boon for the state.
abc.net.au/news/afl-stadium-could-generate-300m-loss-mi-global-partners-analysis/101870704The proposed stadium at Hobart's Macquarie Point would generate a loss of more than $300 million over 20 years of operation, according to a newly released cost-benefit analysis.
A government-commissioned analysis says the stadium would deliver a $306m loss over 20 years of operationThe analysis from MI Global Partners, commissioned by the Department of State Growth, was completed in November but was only published on the department's website on Wednesday. It shows the cost of the Hobart stadium to be $1 billion, or $618.1 million in 2022 values when factoring in costs for construction, operation, and acquiring events.
Over the 20 years after construction is complete, MI Global Partners estimates the stadium will generate $1 billion, largely through tourism and financial benefits. However, when taking into account the costs of paying interest on borrowing to fund the stadium, as well as alternative uses of that money, this was discounted to $311.9 million in 2022 values.Tasmania's opposition said the analysis proved the stadium would be a waste of taxpayer funds.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hobart's largest wastewater plant regularly breaching rules for toxic dischargeDocuments obtained by the ABC reveal Hobart's largest wastewater treatment plant — next to the site of the proposed AFL stadium — is regularly breaching environmental standards for discharging chemicals into the River Derwent.
Read more »
North Melbourne's Tarryn Thomas charged by policeAFL player Tarryn Thomas has been charged by police with threatening to distribute an intimate image.
Read more »
Police trying to gain 'full picture' of Sorell deathTasmania Police want to speak to a motorcyclist as they continue to investigate the death of a woman at Sorell, north-east of Hobart.
Read more »
New data show Greenland 1.5C hotter than 20th-century average, warmest in 1,000 yearsA sharp spike in Greenland's temperatures since 1995 show the giant northern island has reached 1.5 degrees Celsius warmer than its 20th-century average, its hottest in more than 1,000 years, new ice core data show.
Read more »
NT football club threatened with $10,000 fine after forfeiting game due to 'unrest and illness'AFL Northern Territory says the $10,000 fine will be suspended for the remainder of the season and will only be enforced if they forfeit again.
Read more »
Man charged with murder of Penrith mum as new details emergeNew details have emerged over the alleged murder of Western Sydney mum Dayna Isaac after police confirmed the deceased was in an 'intimate' relationship with 32-year-old Paul Sultana.
Read more »