Firm: DLA Piper (AFL); State of Victoria (unknown)
Deal: Melbourne’s Etihad Stadium is to be redeveloped, along with the surrounding Docklands area. In addition, Victoria has committed to a 40-year extension on the AFL’s ability to host the Grand Finals in the city.
Value: $225 million
Key players: David Hallam (lead partner, head of DLA Melbourne office), Arthur Chong and Jane Baddeley (partners, real estate), Kieran O’Brien (partner, litigation and regulatory).
Deal significance: The redevelopment will include a “major focus on improving the fan experience”, with better views from the bottom level at Etihad via new concourse flooring and better seating.
“We are incredibly proud to have advised the AFL on such a significant deal, not only for the AFL sporting community but for the State of Victoria as a whole and many Australian and international sporting fans,” said Mr Hallam.
“This comes amid a highly competitive environment for major stadiums in Australia, and its redevelopment and subsequent agreements will be closely watched by other state governments and sporting organisations.”
This latest deal is part of a larger investment in sporting facilities across Victoria, the firm said, with almost half a billion dollars reported to be included in the state’s May budget.