Southee backs Eden Park
Comment comes on back of grim financial report from EY
We enjoy playing here . . . it’s always good fun to come to Eden Park.
Tim Southee, Black Caps bowler
Black Caps bowler Tim Southee is full of praise for Eden Park ahead of today’s T20 match against Sri Lanka at the struggling stadium.
“We enjoy playing here . . . it’s always good fun to come to Eden Park,” Southee told Radio Sport yesterday.
He was commenting on a report by consultants EY that Eden Park is facing an uncertain future as mounting financial pressures put at risk its ability to host All Black tests, international cricket and other major events.
The report paints a bleak financial outlook for the city’s major stadium, saying revenue is falling and there is no money for new turf, floodlights and big video screens needed for big occasions.
The situation is so bad a senior council source told the Herald that Eden Park is referred to internally as being “bankrupt”.
Southee said over the years he had played a number of test and shortform matches at Eden Park.
“Most of the time when cricket’s played here it’s usually an exciting encounter,” said Southee, who is stand-in skipper for today’s clash.
NZ Cricket yesterday confirmed the Eden Park Trust had not communicated their financial predicament to the national body.
When asked if the trust’s inability to pay for the stadium’s upkeep could impact on international fixtures being allocated to Eden Park in the future, a NZ Cricket spokesman pointed out that the ground would host just two of the 43 days of international cricket held in New Zealand this summer.
Today’s T20 between the Black Caps and Sri Lanka, and the second T20 clash against India on February 8, are the only international matches to be played at Eden Park this season.
New Zealand Rugby chief operating officer Nicki Nicol said the organisation was “aware of the model that the stadium operates on” but had not seen the report.
“Eden Park is New Zealand’s biggest venue and we are committed to playing at Eden Park,” Nicol said.
The Blues Super Rugby franchise, Auckland Cricket and the Auckland Rugby Union did not respond to requests for comment.
The Eden Park Trust is not commenting on the report while a number of conversations go on, a spokeswoman said.
The trust, made up of two representatives each from Auckland Cricket and the Auckland Rugby Union and five independent trustees appointed by the Government, is responsible for the park’s finances.
Mayor Phil Goff said the board has been invited to appear before councillors early this year to see what, if anything, council can do.
Sources have told the Herald there is an impasse between council and the trust board, with the board believed to be seeking a bailout from council or the Government and council seeking changes to the model.
“This is a crux meeting,” a party to the meeting said yesterday.
One option being floated is for the council to take responsibility for $46.5m of debt hanging over Eden Park and chip in $10m for new turf and floodlights. In exchange, the council could be handed the Government’s role of appointing the five independent directors and get effective control of the ground.
A source said any solution would require the backing of Auckland Cricket and the Auckland Rugby Union, who are the ultimate beneficiaries of Eden Park.
The EY report said this year’s Rugby World Cup in Japan, resulting in the loss of one of two lucrative All Black tests, being awarded only two of the usual four cricket internationals and other revenue challenges mean the park’s guardians will not have enough money to pay interest costs of about $1.5m this year. What’s more, EY said Eden Park’s cashflow is not expected to improve over the two following years to meet interest payments on loans of about $47m to ASB Bank.
Auckland Chamber of Commerce chief executive Michael Barnett said either Auckland gives Eden Park a more flexible and realistic operating framework and allows it to generate a sustainable amount of revenue, or it continues to constrain it.