THE AFL has agreed to purchase Etihad Stadium in a deal reported to be worth about $200 million.
The long-anticipated buyout, expected to be confirmed today, is likely to boost gate returns for the ground’s tenant clubs, including the Western Bulldogs, Essendon, Carlton, St Kilda and North Melbourne.
AFL boss Gillon McLachlan has previously outlined plans for major upgrades of the 54,000-capacity ground, which opened in 2000.
The AFL is planning a $300 million revamp of Etihad Stadium, including a new waterside gateway, open-air bars, restaurants, parks and a running track, as revealed by the Herald Sun earlier this year.
The league hopes an overhaul of Etihad would kill off a rival plan pitched by Collingwood president Eddie McGuire to build a $1 billion stadium next door to the MCG.
But a redevelopment is dependent on the State Government forking out the costs.
More to come ...
http://www.heraldsun.com.au/sport/afl/afl-seals-lucrative-purchase-of-etihad-stadium-for/news-story/80960921a3ab704ab2b0ce8e59aaef04
