Government says investor interest strong in stadium

Private investors are circling to back the proposed Macquarie Point stadium, a state government minister says. However, the strong level of interest has caught some by surprise.

State government spruiks investors for new Hobart stadium. Picture: Supplied

The government has been encouraged by the level of interest from private investors keen to invest in the proposed Macquarie Point stadium, Skills and Training Minister Felix Ellis says.

Hailing the stadium’s contribution to employment — particularly for construction apprentices — Mr Ellis said there had been strong interest from the private sector.

The state government has capped its contribution to the 23,000-seat stadium at $375m, with $240m in funding from the federal government going to the broader Macquarie Point precinct.

The government’s estimate of the cost of the stadium has been $715m

It is estimated to generate a total return of around 44 cents to 69 cents of every dollar invested.

State government spruiks investors for new Hobart stadium. Picture: Supplied

“We’ve recently closed our expressions of interest process for investors from the private sector to get involved with Macquarie Point and I can tell you that we have had extraordinary levels of interest from the private sector to invest,” he said.

“That’s people from around our country, but it’s people from around the world, who recognise that this is a phenomenal opportunity for Tasmania.

“We’re getting on with the job. We’re very encouraged by the level of interest that we’ve had from the investing community in this exciting project, and we’re so excited to deliver it for the Tasmanian people.”

Two crossbench MPs on Monday reiterated their opposition to the stadium in the wake of the critical Gruen report.

Lambie Network MP Andrew Jenner said he was surprised by hot interest in a losing investment.

“I can’t see any businessman — and look I hope they’re right — but at 40 cents in the dollar, it doesn’t sound like the best business move if you’ve got a few hundred million and you’re only going to get 40 cents on the dollar,” he said.

Independent Kristie Johnston said the government was on the wrong track.

Independent Kristie Johnston and JLN MP Andrew Jenner speaks to the media on Parliament Lawns in Hobart on Monday, January 20, 2025.

“The Gruen report is an honest, inconvenient truth for the government,” she said.

“They commissioned a report, it isn’t what they wanted to hear, they’re digging their heels and ignoring that report — and they’re putting Tasmania’s future at risk.

But Independent MP for Franklin David O’Byrne said he was all for the stadium.

“I agree with Mr Gruen — it is going to be expensive. I think that you need to acknowledge that but the benefits outweigh the costs,” he said.

“Governments should not only deliver on core services in health, education, and transport, but they should also deliver on economic opportunities, on the infrastructure.

“No one’s arguing about the cost of the Bridgewater bridge and the benefits of the stadium and the facilities that it brings will have far more benefit to the Tasmanian economy than the Bridgewater bridge.”

Labor’s Shadow Minister for Sport & Shadow Minister for Finance Luke Edmunds said Labor had been unable to secure a fresh briefing on the project.

“The government’s refusal of a briefing makes us concerned the Liberals are further behind on this project than they are letting on,” he said.

“Jeremy Rockliff can’t afford to stuff this up like he stuffed up the Spirits, and Tasmanians can’t afford him to either.”