Media release – Janie Finlay MP, Member for Bass, 28 November 2023
Stadium business case a “basket case”
Evidence heard by today’s Public Accounts Committee has raised even more questions about the assumptions relied upon in the business case for Jeremy Rockliff’s stadium.
Drawing on his considerable experience in bringing large concerts to Tasmania, music promoter Charles Touber said the business case appeared to have been reversed engineered to suit a narrative, and that the attendance projections within it were “meaningless”.
He said Tasmania’s population and market were too small, fragile and temperamental to sustain multiple large events each year as the business case projected, with the costs of bringing equipment to Tasmania far outweighing the benefits of playing to a smaller crowd than an act could in Sydney or Melbourne.
Mr Touber summed up what many Tasmanians have been thinking when he said “as a business case, it’s a basket case” and “it’s not a business model, it’s just wishful thinking”.
Despite having more experience than anyone in organising large concerts in Tasmania, the committee heard the government has not consulted Mr Touber at all.
Labor has long said that a stadium is not a matter of enthusiasm or ambition, it’s a matter of engineering and finance.
The more we scratch beneath the surface, the more apparent it comes that Tasmanians are going to be picking up the tab for Jeremy Rockliff’s stadium for decades.
It will be debt funded at a time when Tasmania is in record debt and deficit.
To now, there are still no plans, and no up-to-date costings beyond the extremely ambitious figure of $715 million dreamt up on the back of an envelope.
Today’s testimony from Mr Touber confirmed that from a concert and events perspective, Jeremy Rockliff’s plans are detached from reality.
Heritage site and dodgy figures ‘risk’ stadium viability
More evidence heard by today’s Public Accounts Committee has raised further questions about the Macquarie Point site.
When asked about the potential of the Goods Shed becoming listed as a heritage site the Macquarie Point Development Corporation admitted it was a “risk”.
The transport assumptions remain dodgy, with the Government asserting 1000 people will ride their bike to the stadium.
We also found out the design concept is due to be released in July, however there is unlikely to be an updated budget.
A previous proposal for an underground carpark was not preceded with after consultants recommended not progressing after finding that “the geology of the location may present bigger cost implications than may have already been assessed.”
No one believes this stadium is only going to cost $715 million. As Eddie McGuire said, “you can’t build a shed for $715 million.”
The business case for the stadium and the works done around it are based on fanciful assumptions and dodgy figures.
Clearly the only way we will get real answers to these questions is for the stadium to be scrutinised through the POSS process.
