15,000 sqm prime harbour-front land gifted to AFL for free not valued, admits State Government

PRIME harbour-front land gifted to the AFL for its new headquarters had not been valued by the State Government before it was handed over, it has been revealed.

LAND gifted to the AFL for its new headquarters had not been valued by the State Government before it was handed over, it has been revealed.

The sweetheart deal set up by the Andrews Government faced intense scrutiny during Public Accounts and Estimates Committee hearings today, as the panel examined the broader $225 million redevelopment of Etihad Stadium and the Docklands precinct.

That plan will force the AFL to relocate from its current home near the stadium, prompting the offer of the prime site at New Quay free of charge.

Treasurer Tim Pallas told the panel “we haven’t done that work” when he was asked the value of the land.

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Victorian Treasurer and Resources Minister Tim Pallas Picture: Daniel Pockett

“We have looked at the value of the agreement. We have been focused on what we have extracted in terms of value,” he said.

The Herald Sun understands the AFL will control the site until 2057, which coincides with end date of an agreement to keep the AFL Grand Final in Melbourne.

The move has been slammed by Shadow Treasurer Michael O’Brien.

“How is it believable to say the government gave away prime harbour-front land to the AFL for a new headquarters and they have no idea how much it cost.

“Who gives away 15,000 sqm of Dockland harbour-front view without having any idea how much it is actually worth?”

Mr Pallas also drew criticism from the panel after defending the move to offer sporting clubs low-interest loans rather than grants.

Mr Pallas could not stipulate the rates but said the loans were not designed to derive profit and would benefit community clubs.