Years ago

Sixers Sale Update - Dome Restrictions?

All 3 of the bidders only want the Dome if some of the council restrictions are taken off. Meaning they want to be able to have concerts.

Anyone wanting to buy that just for Basketball would make a major mistake as the running costs of the Dome are around $350,000 per year plus an estimated $3.7M needs to be spent on it over the next 10 years to keep the place going.

So in total that's over $700,000 per year. Even if Social can make $200,000 a year, that leaves $500,000 / 16 games = $31,000 per game.

Even with an average crowd of 6000, works out to be over $5.00 per ticket.

Yes you can get the $60,000 from DH for naming rights, but wow the Government will have trouble selling this HUGE WHITE ELEPHANT.

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Years ago

there is going to be a segment on channel 7 about the white elephant

Reply #87517 | Report this post

Years ago

I believe there was one on 7 news last night about it.

The Church can't use it as it is classified as a concert.

And if it can only be used for Basketball then it is worth $1, and that is not a joke. As long as someone is willing to take over the liability of it ($700k/year) then they may well get it.

The last thing the Government wants is to be owning as asset that is losing more and more money every year and that needs upgrading.

Reply #87521 | Report this post

Years ago

Funny we have this Really Nice Arena and no one wants it

Reply #87528 | Report this post

Years ago

I say 1000 of us put in $60 each to buy the naming rights and have it called 'Really Nice Arena'..

Reply #87530 | Report this post

Years ago

"really nice arena that needs a good clean"

Reply #87531 | Report this post

Years ago

and edible food.....
but at least they have Coopers there!! not David either...

Reply #87534 | Report this post

Years ago

Or why dont we call it the :

Tina Arena

or the Gilbert Arena(s)

Reply #87541 | Report this post

Years ago

2 issues here.

Firstly, if the original post is correct, the proposed buyers now only want what was in the original deal between BASA and the Govt for the original loan.

That is a fully funded business plan that works with the income from concerts and other events built in to the plan.

Is it just me who is suffering from Deja Vu!!

Reply #87557 | Report this post

Years ago

fm - I'm in

Reply #87561 | Report this post

Years ago

fm- I'm in as well, only 997 people to go now...

Reply #87562 | Report this post

Years ago

Where does the $3.7m that needs to be spent over the next 10 years come from? It seems a bit steep just to maintain the place. It's not as though all the seating needs to be changed for plush padded seating, nor do we need crystal chandeliers. So what is it that's going to cost $3.7m?

Reply #87600 | Report this post

Years ago

maybe land tax?

Reply #87630 | Report this post

Years ago

Land tax is another $170k per year.

Reply #87695 | Report this post


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