Royal Croquet Club bid for a five-year lease at Pinky Flat during Adelaide Fringe to be decided at Adelaide City Council meeting

THE co-founder of South Australian coffee empire Cibo Espresso is part of a consortium poised to bankroll Royal Croquet Club.

Royal Croquet Club directors Tom Skipper, Stuart Duckworth, pictured with former director Sam Weckert (right), have sought a five-year lease to host the event at Pinky Flat

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THE co-founder of South Australian coffee empire Cibo Espresso is part of a business consortium poised to bankroll Royal Croquet Club if they can secure a long-term lease for the Adelaide Fringe.

The Advertiser can reveal that Roberto Cardone is expected front Adelaide City Council tonight to argue in favour of an exclusive five-year licence for the RCC at Pinky Flat.

Mr Cardone said the RCC was an “important part of the arts and festival event calendar in SA particularly for the “millennial” generation.

“A lot of young people are leaving the state, as business people that are behind this we don’t want to see young people miss out on having an event that’s aimed for them to enjoy,” he said.

“They (RCC) bring acts that are pretty amazing...and it attracts 230,000 people, you just don’t get that sort of activation (in Adelaide).”

He said his desire to help out RCC directors Stuart Duckworth and Tom Skipper came from his own experiences in business.

“I went through a difficult time transitioning a business, I had the SA business people just reach out to me, and be a sounding board and mentor me through a very difficult time,” he said.

“When I saw this (RCC financial difficulties) I remembered those people who helped me.”

Adelaide businessman Jason Di Iulio, who runs investment firm 1835 Capital and made a failed bid to buy the State Administration Centre, is also an investment partner.

Mr Cardone said other investors were a group who invest in “large proportions” but he would not reveal who they were.

He would not comment on the specifics of the financial deal ahead of the meeting.

Mr Cardone would not comment on how much he is investing in the event and would not be drawn on a council agenda report for tonight’s meeting that said investors would pull $500,000 in proposed funding if a five-year licence was not granted.

There are also doubts that this year’s event, which opens on February 16, may also be cancelled if a long-term lease is not granted.

Mr Cardone’s comments came as Councillor David Slama, who will not be at tonight’s meeting, said a long-term lease was a “no brainier”.

He said the new investors would prepay all rental fees and remediation fees in full each year of the event.

“I have no issue as long as it’s not going to cost ratepayers money,” he said.

“I think the RCC is bigger than North Adelaide (and) a few fuddy duddies who don’t like noise beyond 11pm,” he said.

“This is the time of the year we need big vibrant events ... it’s part of our culture and part of our brand.

“I know people from Gawler who don’t come into the city until the RCC is on. It’s an absolute must.”

The Royal Croquet Club shifted from its Victoria Square site (pictured) to Pinky Flat

Agenda papers for tonight’s meeting state that council staff “understand” the investors will withdraw a $500,000 contribution — provided to help repay creditors and stave off liquidation of the RCC — if the five-year licence is not granted.

But RCC director Stuart Duckworth was reported yesterday as saying that information was incorrect.

It was also reported yesterday that council chief executive Mark Goldstone had said the investors had threatened to withdraw support for this year’s event if a five-year licence was not approved.

Council staff on January 4 granted the RCC a licence for next month’s event after the RCC had failed to meet two previous deadlines to provide financial security.

Councillors will have two options tonight — approve the existing one-year deal or a five-year lease.

Councillor Houssam Abiad said he would only support a five-year licence if there was a “substantial guarantee” to protect ratepayers.

“Are they prepared to put a rental guarantee in the bank for five years? If the answer is no, we’re not going to leave our ratepayers exposed,” he said.

“We all deserve second chances ... but we (council) can’t afford to carry any risk. How is it our problem if the investors disappear?”

Councillor Anne Moran said she could only support the current licence.

“The proponents and the ceo have told us the agenda is incorrect and will give facts at meeting,” she said in an email. “(I’m) Very unnerved by confusing info. (I) Cannot possibly do my due diligence on this shemozzle.”

Councillor Sandy Wilkinson was supportive of a three-year licence but with the option for the council to review the terms of the lease each year.

He said the RCC pay a “token rent” each year and it would be “reckless” to give ratepayers an open five-year deal.

“Also in fairness to other operators the Catherdal Hotel, Lion Hotel ... they take a 30 or 40 per cent to trade during the Croquet Club is in operation and they are not too please for these guys getting a free kick,” he said.

The Advertiser revealed last week that Premier Jay Weatherill had written to the council on January 15 seeking support for a long-term deal.

Mr Wilkinson said Oppositon leader Steven Marshall asked him “the other day” if he should write a letter of support.

“There’s support from both sides of politics for it,” he said. “This is something 20-somethings care about You have thousands going to that, so throwing their support behind that is a way of picking up the votes of people in that age group that’s why the government and opposition are supporting it.”

The council meeting starts at 6pm