It can be revealed today that the cost of Premier Rann’s proposed Adelaide Oval redevelopment had blown out by about $100 million.
Information provided to the Liberal Opposition – by sources with an intimate knowledge of the detailed workings of the new Stadium Management Authority and its two working parties – have revealed confidential information which Mr Rann and Mr Foley are despe rate to keep secret until after the State Election.
“Whilst final estimates are yet to be submitted, the latest estimates are that the total cost has blown out by $90 million – from $450 million to about $540 million,” Shadow Minister for Finance Rob Lucas said today.
“In addition to this figure, the cost of the current redevelopment of the western grandstand has blown out by $15-$20 million.
“So if the Rann Government’s current deal with the SACA includes picking up this blowout, the total blowout will already be over $100 million.
“It is quite clear that Mr Rann’s Adelaide Oval proposal is simply a giant con designed to try to get him through the election period.
“There is a desperate “conspiracy of silence” at the moment to try to prevent this information from becoming public before the election.
“No-one with any knowledge of this proposal believes that Mr Rann’s costings are accurate.”
• The first $85 million (at least) goes to paying off SACA’s debt for the current redevelopment of the western grandstand;
• The cost of the bridge over the River Torrens and the enclosing of the Memorial Drive Tennis Centre also have to be included in the total redevelopment cost; and,
• The current estimate of $540 million still doesn’t include any estimate for underground car parking which has been publicly canvassed as an essential part of any redevelopment.
Mr Foley has already publicly indicated that the Government will not provide any more funding than the $450 million and football has already told the Government that one of their non-negotiable conditions for considering this proposal is they won’t fund any possible blowouts in the $450 million cost.
“It is quite clear that under these conditions this project is already “dead in the water”,” he said.
“Mr Foley made an embarrassing bungle on Saturday when he told 5AA the cost was $500 million and it was a “ballpark” estimate.
“The reason for this bungle is now clear – Mr Foley knows there has been a blowout and the total cost now has a “5” in front of it rather than a “4”.”
Mr Foley must now provide the detail of his “ballpark” costings for the Adelaide Oval redevelopment and he must answer the following questions:
• Who did the Government’s “ballpark” costing for the Adelaide Oval redevelopment?
• Will Mr Foley guarantee that the announced redevelopment can be delivered for the $450 million “ballpark” costing released by him?
• Has any Minister or officer of the Rann Government received any advice that the latest estimate of the cost of their Adelaide Oval redevelopment is higher than $450 million?