Park loan holiday approved
Eden Park bosses will skip principal loan repayments to the Auckland City Council during the stadium’s upgrade.
A request for a 30month principal repayment holiday was approved by the council’s finance and strategy committee on Wednesday last week.
The move will help the Eden Park Trust Board cope with a drop in revenue because of the closure of the south and west stands. The board will continue to pay interest at a commercial rate on the loans totalling $6.8 million.
Council finance general manager Andrew McKenzie told the meeting there would be no financial impact on the council.