SBD Global/November 19, 2012/Facilities

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  • Singapore Close To Completion Of $1.1B Sports Hub

    Premiership sides, rugby's HSBC Sevens World Series and cricket's Indian Premier League "will soon be strutting their stuff at the Singapore Sports Hub, a playground for the world's most-famous athletes," according to Alvin Sallay of the SOUTH CHINA MORNING POST. While Hong Kong is "still undecided on how to proceed with a sports hub at Kai Tak, its business as usual in Singapore, which is steaming ahead toward completion" of its S$1.37B ($1.1B) project in March '14. Venue operator Global Spectrum Managing Dir Mark Collins said, "That is our scheduled date for completion of the project, and we are well on the way to meeting it. We are down the final stretch now." A 35-hectare site at the edge of the Kallang Basin, next to Singapore's city center, "the sports hub will offer elite and recreational sporting and entertainment facilities." Collins said, "We have already signed MOU's (memorandum of understanding) with around 20 major events in the run-up to 2015 when Singapore hosts the SEA (Southeast Asia) Games." The hub is the "largest sports infrastructure public-private partnership (PPP) in the world." Under the PPP arrangement, "the government will pay the consortium an annual fee" that covers construction, operating and financing costs over 25 years (SCMP, 11/18).

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  • West Ham Makes 'Take It Or Leave It' Offer For Olympic Stadium

    EPL West Ham United delivered a final "take it or leave it" offer to the London Legacy Development Corp. on Friday as the long-running saga over the future of the Olympic Stadium enters its end game, according to Owen Gibson of the London GUARDIAN. The LLDC insists that it is determined to come to a resolution by the end of the year, and West Ham's latest offer, understood to "improve substantially on the £10M ($15.9M) upfront contribution to the £160M ($254.1M) conversion costs previously tabled, is designed to force the issue." West Ham has indicated numerous times it remains committed to moving to Stratford but "not at any price." Meanwhile, LLDC CEO Dennis Hone has said he wants to reach a solution with the club but "not at any cost to the taxpayer." The standoff has "created ongoing uncertainty" over the fate of the £468M ($743.3M) stadium. Others on the LLDC board believe that it now makes sense to walk away from EPL football, "which necessitates spending at least £160M on a new roof and retractable seats, and instead invest £30M ($47.6M) in getting ready to open as soon as possible as a multi-use venue without football" (GUARDIAN, 11/16).

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