EC, 5,000 people on a CT is just crazy stuff. The simple thing is to form a trust. (eg the Sixers Stadium Trust) Let's assume the successful bid is say $4,000,000. Therefore each of the 4,000,000 units are sold for $1 each. Then if people wish to sell their part of the stadium, then they can sell their share at a predetermined rate.
The stadium is then run by the trust and any "excess" returned to the shareholders as a dividend. The current setup is actually perfect for this. Danny Hughes is the current stadium manager and would simply become an employee of the trust.
Owning commercial property in trust format is a very common format of stamp duty tax avoidance as well. The stamp duty on $4,000,000 property exchange is $213,830 (5.35%) As the ownership of the property doesn't change (ie the Sixers Stadium Trust), only the ownership of that trust changes and so the government can't extract stamp duty as there is no property transfer to attract stamp duty. The Sixers Stadium Trust still owns the stadium. Therefore, selling the trust units is easier and the price of the unit is worth about 5% more as any "stamp duty" cost goes to the Trust shareholders.
A significant number of high rises and commercial properties are owned this way. You would be surprised! Can you imagine the stamp duty if something like Tea Tree Plaza was sold? Instead of Company A selling to Company B, Company A just sells its share in Trust C to Company B. Let's face it, most corporations are run by accountants who know these loopholes and if the government actually spent taxes wisely, we wouldn't mind paying taxes.
I wouldn't be surprised is someone who watches this forum know about this type of property ownership. (you know who you are you sexy devil)
If anyone is interested in forming a trust and heading it up, I would be interested in chipping in some money to buy some units in the trust and I would encourage others to consider this as well. The other benefit of a commercial property trust like this is is that when you do decide to sell your share and the unit price has gone from say $1 to $2, the smart thing to do is roll the proceeds of the sale into your Super to save on capital gains tax (you'll get slugged 15% instead of 50%(?) (check/confirm with your accountant as I have never received a CGT bill)