Tassie stadium costs increase ahead of pivotal vote

The financial implications for Tasmania’s new waterfront stadium, a prerequisite for the state’s inaugural AFL team, have escalated significantly, with costs now nearing AUD$1 billion.

Liberal government fast-tracked legislation aimed at expediting approvals for this high-profile and contentious project.

The latest projected cost stands at AUD$945 million, a marked increase from previous estimates of AUD$755 million and the original figure of AUD$715 million.

Commenting on the cost increase, Business and Industry Minister, Eric Abetz said: “It also accounts for detailed items such as audio-visual, communications, kitchen, and food and beverage fit-outs.”

While concerns from Cricket Australia have emerged regarding the proposed hatched roof design potentially affecting daylight cricket due to shadows on the field, Mr. Abetz expressed confidence that a workable solution could be achieved.

Macquarie Point Development Corporation’s chief executive, Anne Beach, noted that ongoing decisions regarding roofing materials are in progress.

She stated that a “test rig” would be established to mitigate these concerns by examining how other venues manage similar issues.

Premier Jeremy Rockliff has firmly stated that Tasmania will not secure an AFL team without the construction of the stadium.

Devils CEO, Brendon Gale, added: “There’s a view down there that we’ll have an opportunity to renegotiate, and I guess our response to that is I wouldn’t be running that risk, because the AFL has its own politics and its own constituents,” Gale remarked.

The financial backing for the stadium includes AUD$375 million from the state government, AUD$240 million from the federal government, and AUD$15 million from the AFL. The remaining AUD$300 million will be sourced through state borrowings.

The fast-track legislation has garnered support from both the Liberal party and the Labor opposition and is expected to pass the lower house in the coming months.

However, gaining approval in the upper house may be more challenging, as the government must secure votes from several independent MPs who have expressed opposition or concerns regarding the project and its expedited approval process.

An independent planning report previously described the venue as “overbearing,” predicting an increase in Tasmania’s debt by an additional aud$1.86 billion over a decade of operation. Mr Abetz contended that the concerns identified in the report have been addressed in the proposed legislation and permit plans.

Failure to have the stadium at least 50% completed by October 2027 would result in financial penalties for Tasmania, with the venue expected to be ready for the 2029 AFL season.

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