Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Eden Park To Contribute $72M To Auckland’s Economy

Media release 
Monday 24 February

Eden Park To Contribute $72M To Auckland’s Economy

It hosted a crowd of nearly 100,000 for the inaugural NRL Nines last weekend, it’s New Zealand’s most iconic sports stadium and a hallowed ground for sports fans, and research shows it’s also a major contributor to the economic well-being of both the nation and its largest city.

In 2014, the Eden Park Trust forecasts activity at Eden Park will contribute around $90 million in gross domestic product (GDP) to the New Zealand economy. $72m of that will be retained in the Queen City.

These figures are contained in a study by research company Fresh Info Co that looked in to the contribution Eden Park makes to the Auckland and New Zealand economies. The study follows the release of The Eden Park Trust’s annual report which shows 2013 was a year of good progress for the 50,000-seat stadium.

The Trust increased its net profit before depreciation by 172 per cent to $1.2 million, while repaying $2.6 million of its commercial loans. It also re-documented the one remaining bank facility not guaranteed by Auckland City.

The Eden Park Trust CEO David Kennedy says forecasts for 2014 are encouraging.

“Fixtures in the Park have increased by 26% since 2010 and the calibre of sport and entertainment content at the ground continues to be superb.

“In terms of a direct revenue contribution to the city, the report predicts we will generate more than $74 million for Auckland this year which equates to around $72 million in GDP. Nationally, the figures are $86 million and $90 million respectively,” Kennedy says.

Eden Park’s expected contribution to national GDP represents an increase of around 110 per cent on the actual figure for 2010 and 21 per cent on the estimate for 2012.

The ground is forecast to host 29 fixtures in 2014 up from 24 last year and 19 in 2010. Nearly 600,000 spectators are expected to pass through its turnstiles this year.

Rugby continues to be the dominant event hirer. During 2013 Eden Park hosted The All Blacks, The Blues and Auckland Rugby for 14 matches in total. The annual secondary schools and club rugby finals were also held at Eden Park. The Wellington-based Phoenix Football Club played its second game there in February 2013 and its third earlier this month.

Outside the sporting arena, Eden Park hosted more than 1,000 functions ranging from three-day business conferences to school balls and weddings.

EPT_Annual_Accounts_2013_Final.pdf

Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Missed Opportunities: Amnesty International Report Card On NZ's UN Role

As New Zealand steps down from its month as President of the Council, Amnesty International has taken the opportunity to review New Zealand’s role on the Council so far and assess their performance and contribution to protecting human rights worldwide. More>>

ALSO:

Prince Charles Get More Jobs: PM Announces Honorary Military Appointments

PM John Key has announced that Her Majesty The Queen has approved the appointment of HRH The Prince of Wales to three honorary positions: Admiral of the Fleet of the Royal New Zealand Navy; Field Marshal, New Zealand Army; Marshal of the Royal New Zealand Air Force. More>>

ALSO:

No TPP Deal: Gordon Campbell On Why We Should Still Oppose Investor-State Dispute Measures

Even in this dark hour for the TPP, the secrecy farce continues... What is left to hide? Every single negotiator went into those talks in Maui knowing exactly where everyone else stood. More>>

REACTION:

Salvation Army On Homelessness: Hard Times In West Auckland

The report details an uncomfortable story of people whose only option is to live an unhealthy, dangerous and damaging street life... The social housing needed by these people is not currently available in sufficient quantity. More social housing is required in the West. More>>

ALSO:

Message For PM: NZ Supports Te Reo Māori – You Should Too

As Māori Language Week celebrations and commemoration of 40 years draws to an end, the Māori Language Commission, Te Taura Whiri i te Reo Māori, is once again hugely encouraged by the widespread support for Māori language from throughout the country ... More>>

ALSO:

Arming Police: Frontline Police To Routinely Carry Tasers

"In making the decision, the Police executive has considered almost five years worth of 'use of force' data… It consistently shows that the Taser is one of the least injury-causing tactical options available when compared with other options, with a subject injury rate of just over one per cent for all deployments." More>>

ALSO:

Gordon Campbell: On D-Day For Dairy At The TPP

While New Zealand may feel flattered at being called “the Saudi Arabia of milk” it would be more accurate to regard us as the suicide bombers of free trade. More>>

ALSO:

Leaked Letter: Severe Restrictions on State Owned Enterprises

Even an SOE that exists to fulfil a public function neglected by the market or which is a natural monopoly would nevertheless be forced to act "on the basis of commercial considerations" and would be prohibited from discriminating in favour of local businesses in purchases and sales. Foreign companies would be given standing to sue SOEs in domestic courts for perceived departures from the strictures of the TPP... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news