Basketball Geelong in discussions with City of Greater Geelong about buying Geelong Arena

A PRIVATE bid to gain ownership of the Geelong Arena and build an expanded stadium is seeking Government support to realise the plan

Basketball Geelong has been holding talks with the City of Greater Geelong about buying Geelong Arena. Pictures: Alan Barber

A PRIVATE bid to gain ownership of the Geelong Arena and build an expanded stadium is seeking Government support to realise the plan.

Basketball Geelong has been holding talks with the City of Greater Geelong about buying the publicly-owned site, as it eyes an extension and modernisation of the major facility.

The parties are negotiating a potential $6 million deal, which would cover the estimated market value price and necessary refurbishments of the North Geelong venue.

Basketball Geelong has been told that securing State Government funding would smooth the path to a handover.

Council’s finance and strategy interim director Brett Luxford yesterday did not directly answer queries about the potential sale.

“The City is currently undertaking a detailed review of the future needs for basketball within the Greater Geelong region,” Mr Luxford said.

“Until the review is complete, it would be inappropriate for the City to make a decision on a single venue.”

The Geelong Advertiser understands the council has been considering offloading the site, because it costs them several hundred thousands of dollars annually.

Basketball Geelong commissioner Mark Talbot said the proposed sale would allow for future expansion of the venue and secure the sport’s longer term future in the city.

“It would put us in a good position going forward for a number of years.”

Basketball Geelong covered all of the costs of its new six court-facility in Belmont, which opened last year.

It is turning a profit from the venue.

The organisation is hopeful that after the Andrews Government’s recent major investments in basketball stadiums in Ballarat and Bendigo, the focus will shift to Geelong in the next term.

There has been no public commitments from any candidate to support the project.

Labor has made a separate $5 million pledge to transform Geelong Arena into a high-performance training hub

Mr Talbot said the organisation planned to create a 3000-seat stadium — doubling the existing crowd capacity — as it expanded to up to 10 courts.

The current tenants would be free to remain, and Basketball Geelong would seek to attract a range of sporting and cultural events to the stadium, Mr Talbot said.

Originally published as Basketball Geelong in discussions with City of Greater Geelong about buying Geelong Arena