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After the AFL announced last month that it would purchase Etihad Stadium, they have confirmed on Wednesday Afternoon that the deal has now been completed.
This means the AFL will now formally take over management and day-to-day operations in running the stadium.
The deal, which was signed by the AFL last month and was reportedly worth a massive $200 million saw all financial transfers completed today.
While the AFL’s plans for the stadium at this time are still unknown, it’s thought they will make an expansion to the stadium, which opened in 2000 and can currently seat 54,000 people.
The stadium’s owners and AFL had originally worked out a deal that would have seen the ground transferred to the AFL’s ownership in 2025, however AFL boss Gillon McLachlan wanted to bring that deal forward.
At the time of the original announcement for the AFL to take over the stadium, McLachlan said they would be looking at upgrading the ground and doing a better deal with tenant clubs the Western Bulldogs, Carlton, St Kilda and Melbourne.
“We think that there’s a whole series of aspects that need upgrading and we want to do deals with the tenant clubs so they can make more money,” he told 3AW radio last month.
“We’d like to work with the state government, in partnership, so the stadium works more seven days a week, 365 days a year and interacts with the precinct better.”
There have been no complaints made by any major players from the clubs or the media about the deal since it was announced. Collingwood president Eddie McGuire believes the stadium could have been demolished and re-built to the tune of $1 billion, rather than spending money on a redevelopment of the current structure.
The stadium is the home ground of a number of AFL teams, as well as being used for other sporting codes like rugby union, rugby league and football.
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