Magazine - Storm Future in New Stadium

By Editor in Rugby on 23rd Feb 2010 6:00

Melbourne Storm's future would be underpinned by three pillars of revenue from corporates, membership and attendances generated by the NRL's move into the new rectangular stadium on the Yarra, acting chief executive Matt Hanson said.

On field, the Storm's performance has no peer with two premierships from four consecutive grand finals. Off field, however, Storm's financial situation has been a talking point as the clubs and officials examine the process of introducing an independent commission to run the game.

The Storm's continuing financial losses, estimated to be up to $6 million a year, have been a concern, with other clubs fearing they would have to prop up the Storm if an independent commission was formed and Storm owner News Ltd, which also part owns the NRL, left the game.

However, Hanson, who took the reins when Brian Waldron jumped ship to rugby union start-up club Melbourne Rebels, told The Sunday Age during the week that new revenue streams generated by the team's move to the purpose-built stadium - it will host its first game on May 28 against Brisbane - would decrease the annual deficit. Corporate entertainment capacity will increase from 500 at Olympic Park - which included five suites - to nearly 1500, with 18 suites at the new stadium.

''We believe that the three main revenue streams of game attendances, membership and corporates will definitely help reduce the deficit that Melbourne Storm currently run at and, in addition, there will be other revenue streams such as our own merchandise shop at the stadium and our own after-party venue [cafe/bar],'' Hanson said.

''In the past, we've never had a facility that's really been able to grow those three main revenue streams; now we've got that facility, we hope we can start to make inroads.''

Hanson said Olympic Park was just not up to scratch in terms of corporate capacity. ''At Olympic Park, while it was dear to our hearts, it probably never delivered the corporate facilities so we could really compete with Etihad Stadium or the MCG. We've now got corporate facilities that offer what corporates around Australia are used to.''

Source & More: www.theage.com.au

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