The cost of redeveloping the MCG’s Shane Warne Stand has now been projected at a staggering $3 billion, according to Channel 7’s Caroline Wilson.
The southern stand renovation, which won’t begin until the early 2030s, was initially projected to cost $2 billion.
Stream The Agenda Setters live or watch anytime on-demand at 7plus
Know the news with the 7NEWS app: Download today Arrow
However, Wilson said private forecasts have now put the price tag at $3 billion …. and that is simply to renovate half of the iconic venue.
“It was staggering to me (when) I read about the $2 billion projection of the rebuilding of the Shane Warne stand,” Wilson said on Channel 7’s The Agenda Setters on Tuesday night.
“I’m told (now that is) being privately forecasted $3 billion … not to build a stadium, but to renovate half a stadium, which, of course, is the southern stand.”
The Melbourne Cricket Club will be required to fund a significant portion of the project, alongside the Victorian state government and corporate contributions.
When questioned whether the renovation was necessary, Wilson said the view was clear.
“This has to remain the prime stadium in the country and one of the premier stadiums in the world. And it is not that at the moment with the way the southern stand is,” Wilson said on The Agenda Setters.
But the massive cost comes at a time when Victoria is grappling with significant state debt, raising questions about how the public will respond to such a large government contribution.
AFL expert Kane Cornes asked the obvious burning question.
“Politics is not my portfolio at all but I read about the Victorian state debt … How will this go over with the public, who are seeing Victoria’s debt and then you’re saying $3 billion (for a renovation), which a large portion is clearly going to be funded from the government … how are they going to get that through?” Cornes asked.
However, Wilson believes the MCG’s iconic status will win over taxpayers.
“I think there’s three three letters, M.C.G. I think that wins over the public every time. Everyone loves a project.”
The redevelopment is not expected to commence until the early 2030s, and the political landscape may have changed significantly by then.
Melbourne on the brink of setting fire to million-dollar game
3 min read
Defender learns fate for tackle that fractured ex-teammate’s neck
1 min read
