Metricon cuts ties with Gold Coast Suns as Queensland’s Heritage Bank steps in

The Gold Coast Suns have found a new stadium sponsor to replace struggling builder Metricon in a multimillion-dollar deal.

The Gold Coast Suns have found a new stadium sponsor to replace struggling builder Metricon.

Heritage Bank, which is based in Toowoomba, Queensland, has taken over the rights to the Carrara Stadium in a multimillion-dollar five-year deal.

The move comes after Metricon walked away from the stadium sponsorship after it almost collapsed following rising building costs and the death of its founder Mario Biasin.

A $30 million cash injection saved the building company last year, but it was unable to continue with its decade-long association with the Suns.

Gold Coast Suns chief executive Mark Evans. Picture: Chris Hyde/Getty Images

Gold Coast Suns chief executive Mark Evans said he was buoyed by a Queensland-based company taking on a significant deal with the club.

“Over the last four or five years, we’ve rebuilt many parts of the club, put ourselves into a position where we can achieve the goals we set out,” he said.

“Commercially that is to continue to grow the support on the Gold Coast and grow the revenues.

“And on the football field, it’s not just to make finals but to progress deep and win premierships – it feels like for the first time in my time at this club that we now have a base at which to build upon.”

The AFL has spent $200 million on the Gold Coast Suns since it was formed in 2009, before playing its first season in 2011.

The club was given generous draft concessions but struggled to hold on to marquee players.

Tom Lynch left the Suns to become a Richmond premiership player.

Mr Evans joined the Gold Coast in 2017 after working as the general manager of football operations at AFL House in the Docklands.

“We went through a fairly major reset four years ago, and it now feels like the group of talented players that we’ve got to have committed to each other and to the club to stay to win finals and hopefully deliver our first home final at Heritage Bank Stadium,” Mr Evans said.

Metricon Stadium will be renamed Heritage Bank stadium. Picture: AAP Image/Dave Hunt

The Suns had more than 21,000 members in 2022, compared with the Brisbane Broncos in the NRL, which had 30,221 members.

The deal with Heritage Bank was done directly with the Suns – no broker fees were paid.

Heritage Bank started as the Toowoomba Permanent Building Society in 1875.

More than 100 years later, it became Heritage Bank after a merger with the Darling Downs Building Society.

Heritage Bank agreed to a merger with People’s Choice credit union in November 2022.

The move, approved by members, will mean the combined company will have assets of $23 billion.

The bank will have 720,000 “members” and 95 branches across Queensland, NSW, Victoria, South Australia and the Northern Territory.

The lucrative sponsorship deal comes as Heritage Bank moves to cement its new name following the merger.