Cr Cochrane | will you be putting your best foot forward?

Proposed Cairns stadium will run at $1.9 million annual loss: report

Damon Guppy

Saturday, October 8, 2011

© The Cairns Post

A rectangular stadium with the capacity to seat 20,000 spectators and attract national sports matches would run at an annual loss of $1.9 million, a draft report has forecast.

But the project to build the stadium would stimulate the Cairns economy by generating an estimated $57.4 million and 576 jobs.

Cairns Regional Council yesterday released a draft report, prepared by consultants Coffey Sport and Leisure, into the need for a major rectangular field, mainly to host football games, for public comment.

"This report and subsequent public feedback will provide guidance to the council as to the most appropriate options for progressing the study," Mayor Val Schier said.

"What we’ve got is a really good foundation as we approach stage two (of the proposal)."

Cr Schier said money had already been put aside for the second stage, which would be discussed by the council next month. The proposal for a new stadium follows complaints that facilities at Barlow Park are lacking and restrict the city’s ability to attract national or international sporting matches.

NRL, Super 15 and A-League clubs have indicated they would consider playing games in Cairns if a suitable stadium was built and if a financial return of $150,000 to $200,000 was guaranteed. The stadium would also need to have seating or standing room for up to 20,000 spectators to attract national sporting events and elite training squads, the draft report said.

A profit and loss summary estimated the stadium would make an operating loss of about $76,000 each year but that would increase to $1.9 million when a sinking fund and depreciation were taken into account.

But the construction project would provide a one-off benefit of $57.4 million and create 576 jobs and the annual value-added benefits from the operations of the stadium and visitations would be $9.6 million and 132 jobs.

Barlow Park was proposed as the preferred location for the stadium because of its central location. The draft report also explores entry prices, stadium membership options and corporate opportunities. The public has until October 23, to comment on the draft report, which can be viewed on www.cairns.qld.gov.au

                   ________________________   |   _____________________