It has been reported this morning that the AFL has agreed to purchase Melbourne’s Etihad Stadium in a deal believed to be worth between $150 to $200 million.
The AFL would have taken ownership of the 54,000 capacity stadium for just $30 in March 2025, but had already been negotiating its early release.
It was reported earlier this year that that league is planning a $300 million upgrade to the stadium’s facilities and adjoining areas outside of the stadium.
The purchase may boost the gate receipts of tenant AFL clubs such as the Western Bulldogs, Essendon, Carlton, St Kilda and North Melbourne.
Clubs have to hit an attendance figure of between 25,000 and 26,000 to break even which is less than favourable compared to those clubs who are tenanted outside of Etihad Stadium.
In September, AFL boss Gillon McLachlan flagged the purchase of the stadium telling radio station 3AW, “We’ve always said at the right price we’d like to do it.”
The AFL is expected to formally take over the stadium’s ownership and management in early November.
Etihad Airways will continue as the naming rights partner of the stadium under its current agreement to 2019, with options to further extend the deal while Michael Green will continue as the stadium’s CEO.
Source: Fox Sports