ANZ refurbishment to save taxpayers $500 million
Following receipt of business cases from Infrastructure NSW, the NSW Government today announced it will not proceed with knocking down ANZ Stadium.
Instead, the NSW Government will undertake a refurbishment of the existing facility into a rectangular stadium, which will bring 46,000 fans closer to the action while saving taxpayers half a billion dollars and ensuring Sydney remains the major events capital of Australia.
Premier Gladys Berejiklian and Minister for Sport Stuart Ayres confirmed the NSW Government will replace Allianz Stadium with a world class 40,000 to 45,000 seat facility offering a significantly improved experience for fans.
“We are a Government that does its homework and listens to the public,” Ms Berejiklian said.
“That comprehensive homework means we will be able to deliver two outstanding stadiums for Sydney at the best possible value for taxpayers.”
Mr Ayres said the NSW Government’s revised plans for these stadiums are anticipated to cost approximately $1.5 billion.
“This represents a saving of half a billion dollars, retains the iconic Olympic Stadium and ensures Sydney will remain the major events capital of Australia,” Mr Ayres said.
“This Government will not allow NSW to fall behind the other states on sporting infrastructure and the associated jobs and economic boost they provide.
“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.
“This investment in stadiums is significantly less than one per cent of the $200 billion the NSW Government will invest in health and education over the next five years.
Detailed work undertaken by Infrastructure NSW has shown a 75,000 seat ANZ Stadium ‘knock down rebuild’ would cost $1.33 billion, which was more than the previous estimates.
Given that cost, the Government has decided to proceed with a better value 70,000 seat renovation option at a cost of $810 million.
“Our thorough homework means that 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,” Ms Berejiklian said.
This is a responsible approach which delivers a massive improvement for fans by bringing 46,000 seats closer to the action, extending the roofline to ensure all seats are undercover and delivering a better atmosphere and experience for all spectators.
Importantly, this major renovation will extend the life of the 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 to be prepared by Infrastructure NSW with construction expected to start in late 2019 and be completed by mid-2021.
The NSW Government has also announced it will proceed with the full redevelopment of a 40,000 to 45,000 seat Allianz Stadium, with an allocation of $729 million, after receiving a final business case from Infrastructure NSW which concluded this was the best option for taxpayers and for fans.
Allianz was built in the 1980s and is now the oldest top-tier rectangular stadium in Australia, with significant safety, compliance and patron safety issues, together with insufficient female toilets and inadequate provision for disability access.
To address these issues, the NSW Government will rebuild Allianz Stadium into a world class rectangular stadium with substantially improved sightlines, a roof that covers all patrons, and significantly improved amenity, and food and beverage options.
Work on Allianz Stadium is expected to commence in late 2018, and be completed by March 2022.
It is expected the new Allianz Stadium will have a lifespan of 50 years.
Summaries of both business cases are available on the Infrastructure NSW website