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Comment on Eden Park upgrade funding
Hon Trevor Mallard
Minister for the Rugby World Cup
20 February 2007 Media Statement
Comment on Eden Park upgrade funding
Minister for the Rugby World Cup
Trevor Mallard reiterated today that the government would
take the lead role in facilitating the fundraising required
for the Eden Park upgrade that was announced
yesterday.
"The upgrade announced yesterday is estimated to cost between $175 million and $190 million but final and detailed costs will not be known until it has been quantity surveyed, we have a final design and tenders have been let for the project.
"Given all the key parties and stakeholders support this upgrade and recognise the importance of this major international event to Auckland, with an estimated economic impact of more than $250 million locally, I am confident that funding will not be a problem.
"The joint government-New Zealand Rugby Union (NZRU) tournament company, Rugby New Zealand 2011 Ltd, has previously made a funding commitment of $30 million ($20 million from the government and $10 million from the NZRU) and there will be additional government funding on top of that.
"The exact quantum will depend on final costings and also on discussions with local government and other potential non-government funders and funding sources - such as naming rights, the sale of corporate boxes and corporate sponsorship post-tournament.
"I am aware that both the Auckland Regional Council and the Auckland City Council understand the importance to Auckland of the stadium upgrade for a tournament that will bring the city valuable international attention and tourism trade.
"Over the next two to three months, government will have discussions with them about the ways of funding the Eden Park upgrade so that the contribution of Auckland ratepayers is minimised," Trevor Mallard said.
For the press statement on the Eden Park upgrade, announced yesterday, see www.beehive.govt.nz/mallard and for the powerpoint presentation that was given yesterday and associated pictures go to www.med.govt.nz/rwc/eden-park/
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