Keep up with
Newstalk ZB

Fri, 24 May 2013, 11:37

Have Your Say

Talkback 0800 80 10 80
Overseas +64 9 307 1080
Text 9292

Follow Us

  • Facebook
  • Twitter
  • YouTube
  • RSS
  • Sign Up

Site Search

Search Search

Select your region:

Auckland Council gives Eden Park a life line

Share |

Auckland Council gives Eden Park a life line

By: Newstalk ZB staff | Latest Auckland News | Thursday August 23 2012 15:56

 

Auckland Council has given Eden Park a life line as it struggles to pay off its Rugby World Cup loan.

In 2010 the Eden Park Trust took out a 40 million dollar loan to boost funding for the stadium upgrade.

Today Auckland Council voted to extend its guarantor status for that loan until November 2015.

It also loaned the trust money in 2010, to the tune of around 6.5 million dollars.

Council has agreed to extend the principle payment holiday on that loan as well.

Eden Park Trust boss David Kennedy says in a normal year it makes a profit of about two million dollars, which just covers the bank interest payments.

Photo: Photosport

 

Related Subjects

Eden Park |

 

Latest Auckland News

Advertisement
Mike Hosking Breakfast
Advertisement

  • 1D win big at first Social Star Awards

  • Car rolled down bank near Wellington

  • Church wading through info for cathedral decision

  • Jennifer Love Hewitt thanks running for her butt

  • Mum on couch for three years, daughter charged

  • Mallory Manning trial not likely until 2014

  • Amnesty International report slams New Zealand

  • Revenge attacks after London killing

Latest Newstalk ZB Video

  • Chris Lynch on the business re ...

  • Chris Lynch hosts the Power Pa ...

  • Friday-Weekend Sport

  • Friday-Bashing Banks

  • Friday-Bashing Banks

  • Wednesday-Twister

  • Tuesday-Things People Do Not W ...

  • Friday-Budget Passion

National Convention Centre

Do you support the Government's deal with SkyCity over the National Convention Centre

Vote Now

View Results

Advertisement

  • Radius Care
  • Roger Advice
  • Awesome Service
  • Paper Plus
  • Advertise With Us
  • ZB App ad