The $225m deal includes the redevelopment of an iconic stadium and the surrounding precinct
DLA Piper has advised the Australian Football league on a landmark deal to redevelop the Etihad stadium in a project worth $225m.
The AFL has reached an agreement with the State of Victoria to redevelop the stadium and the surrounding Docklands precinct. The deal includes an extended 40-year commitment to host the AFL Grand Finals. The project will focus on improving fan experience, the firm said.
The deal also continues the work of DLA Piper on the Etihad Stadium, having advised on the facility’s original acquisition two years ago. King & Wood Mallesons was also involved in that deal, advising the former owners of the stadium.
Corporate partner David Hallam, who heads the firm’s Melbourne office, led the team. The team also included with real estate partners Arthur Chong and Jane Baddeley, as well as litigation and regulatory partner Kieran O'Brien, among others.
The deal is significant not only for the AFL community but for the state of Victoria as a whole and many Australian and international sporting fans,” said 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,” he said.
