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Is this true ? Maybe they should follow the MCG model and have a members club?
http://smh.com.au/news/Business/Telstra-Stadium-losing-ground/2005/04/29/1114635748901.html

Telstra Stadium: losing ground
April 30, 2005


The Homebush stadium is mired in debt and almost as hard to fill as it would be to demolish. Singo might ride to the rescue - at the right price. Roy Masters reports.

'ANZ Bank has done more damage to rugby league than Super League ever did," says Sydney businessman John Singleton.

That's a big statement from the outspoken sports-loving media and advertising guru, considering the mid-1990s Super League war between Rupert Murdoch and Kerry Packer set rugby league back a decade, delivering disenchanted fans, TV viewers, sponsors and players to Aussie rules and rugby union.

But Singo owns Gosford stadium, which doesn't have a permanent tenant, and ANZ Bank effectively owns Telstra Stadium, which has contracted the Bulldogs, Wests Tigers and Rabbitohs to play there from next season.

Telstra Stadium has also tabled an offer to St George Illawarra. Four clubs using Homebush as a base would radically recast the tribal map of the century-old code.

While moving westward, as Wordsworth wrote, may have a "heavenly destiny", Telstra Stadium's finances are less than ethereal.

In last year's annual report, the owner, Stadium Australia Group, had current assets of $16.8 million, but these were overwhelmed by current liabilities of $30.7 million. It's a situation which has dogged the stadium's finances since June 2002.

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AdvertisementSAG has secured as many matches as possible to shore up the value of rights for catering, beverages, merchandise, signage and to sell memberships - but the figures show a business struggling to meet debt and creditor obligations.
 

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Singleton is an idiot

Singleton, angry that South Sydney ignored a $9 million offer from the NRL to relocate to Gosford, blames ANZ for supporting the generous guarantees the Rabbitohs have to play at Homebush.

his idea is worse then souths moving to north sydney oval
 

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OzAsian said:
Is this true ? Maybe they should follow the MCG model and have a members club?



But Singo owns Gosford stadium, which doesn't have a permanent tenant,
Terrible reporting by the SMH. Gosford does have a permanent tenant - Central Coast Mariners FC.
 

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BrizzyChris said:
Why the hell would the Rabbitohs play on the other side of town??
Instead of Gosford?

Singleton,Masters and the SMH are jibbering fools.

This whole article(not fully posted) is full of complete crap.

"'ANZ Bank has done more damage to rugby league than Super League ever did...."

LOL...He is surely kidding

"Last year's $4 million profit came after an $11.2 million increase in the value of the stadium. Without that, critics argue, the venture would have lost $7.2 million....."

Critics? Masters?....Singo?

"Singleton says: "In the long run, playing at Homebush equals no crowds..."

FACT:Telstra Stadium since its opening in 1999 has hosted 61 NRL games(incl Grand Finals) averaging a very respectable 31,175(NRL average 15,000 approx)

Current tenants,Bulldogs average 26,000 at Telstra...2nd highest in the NRL behind Brisbane

Grahame Park(Singo's ground)-23 games @12,567 ave

"SCG Trust, ......... All our profits are reinvested in facilities for players, spectators and members."

LOL...The SCG facilities for spectators and members are beyond a joke.

"An overlay of the seating plans of both stadiums indicates the worst seat at Aussie Stadium corresponds to the closest seat at Telstra...."

Masters is kidding..surely...or just plain stupid

"The ANZ Bank will destroy rugby union in the same way they are destroying rugby league"

LOL....

"Last year, only seven of the 20 events attracted crowds greater than 45,000, the capacity of Aussie Stadium."

Since when did Aussie Stadium hold 45,000?
Conveniently though he ignores the other 5 games that attracted 40,000-45,000

"Attendances for AFL's Sydney Swans, committed to play their biggest three regular season matches at Telstra, have declined since 2002..."

lets see
2002-42,986ave
2003-55,070
2004-43,219

Anyone see problems here????...SCG averaged 19,000 -26,000 for the same period

"while non-Bledisloe Cup matches have declined 13.2 per cent in the same period."

2002-vs France-64,703
2003 vs Wales 63,688
2004-vs Scotland 56,143

Declined?..Ill call it a less attractive fixture vs a crap Scotland.
I suppose its convenient to discount the Bledisloe Cup Games since they are the biggest cash cow in Australian Football gate takings,including the AFL and NRL GF.

BTW..The average attendance for Rugby Union tests since the opening in 1999 is over 80,000 per game.
 

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QUEENSLANDER!!!
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telstra stadium is shit. i hope it goes broke. i hate the ground coz it never fills. u dont get 80000 to a souths, tigers or bulldogs game. bulldogs to belmore, bunnies to redfern and tigers to leichart / cambelltown. stupid fuckin $$$$$$$$$. WHAT ABOUT THE FANS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 

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Auxodium said:
they are the main tenant and the new NRL team will be there by 2007 i think
The new NRL team will almost certainly be on the Gold Coast. They have a government commitment to spend up to $125 million on a 25,000 seat stadium.

Relocating a Sydney League team to Gosford makes sense but establishing a new League or Rugby team there (as Singleton has tried to do in the past) would have only set either sport back years.

The article is hypocritical. Imagine bypassing Perth or Melbourne for a Central Coast Rugby team? As for the NRL, why waste another franchise in NSW? The game needs to grow nationally and internationally. The GC has half a million people itching for a league side.

Heck, if Sigleton was serious about RL he'd accept that any new franchise would be better off in Wellington or even Port Moresby (just add $$$) over the Central Coast.
 
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