NSW Premier announces revised funding for NSW stadiums
Thursday 29 March 2018 3:54pm
The NSW Premier, the Hon Gladys Berejiklian MP, today announced a revised funding package for NSW stadiums which will provide for the refurbishment of ANZ Stadium into a 70,000-seat rectangular stadium that will bring 46,000 fans closer to the action.
The Premier made the announcement following receipt of business cases for ANZ Stadium and Allianz Stadium from Infrastructure NSW.
The refurbishment of ANZ Stadium at a cost of $810 million will save the NSW Government half a billion dollars on the original estimated expenditure announced late last year while still ensuring Sydney remains the major events capital of Australia. It is expected that the ANZ Stadium renovation project will extend the roofline to ensure all seats are undercover.
The Premier and the Minister for Sport, Stuart Ayres MP, also confirmed the NSW Government will replace Allianz Stadium with a new 40,000 to 45,000 seat facility offering a significantly improved experience for fans. The expected cost is $729 million.
Mr Ayres said the NSW Government’s revised plans for these stadiums would cost approximately $1.5 billion. He said: “This investment will drive growth in the visitor economy, realise the economic and social benefits of a strong cultural and sporting sector, and support liveability for the people of NSW.”
On the refurbishment of ANZ Stadium, the Premier said: “We can deliver a world-class rectangular stadium at Sydney Olympic Park without knocking down ANZ Stadium, save $500 million, and complete the rebuild two years earlier than previously scheduled.”
The Premier said the renovation would extend the life of ANZ Stadium by a further 40 years and will ensure that Sydney retains the NRL Grand Final for the next 25 years.
The NSW Government will now proceed to a final business case for the Sydney Olympic Park venue to be prepared by Infrastructure NSW with construction expected to start in late 2019 and be completed by mid-2021.
Read the NSW Premier’s media release here
Summaries of the Infrastructure NSW business cases for both stadiums are available here