What a total load of crap.

i can smell games at Princes Park again

AFL not involved in the redevelopment as yet.

raise funds through some bullshit airy fairy unanswered means. At the completion of the development PP will be worth over $100 million with a cost of $67million.

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A society grows great when old men plant trees whose shade they know they shall never sit in.

what about our 1.5mill loan and 60,000 cash deficit? wouldnt it be more fitting to pay these off first?

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Back like a raging case of pubic lice

$67m - thats alot of redevelopment! What are we going to be just open like Arden St? Doesn't that take away from potential of using it for the VFL finals etc?

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Between our dreams and actions lies this world

No - the stands will go!!!!! The locals will never have games.

Going to result in "child care facilities, gardens and underground carparking"

No games at PP as they are ripping down stands including the legends

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A society grows great when old men plant trees whose shade they know they shall never sit in.

Shit - I just looked out the window and saw this flock of pigs flying by!!!!!!

The press conference was Smorgon and Unity putting forward their plans:

Proposal is for a $67 million redevelopment of optus oval as a Stage 2 on the current plan. Included underground car park, lots of community facilities, removal of some stands, elite facilities, child car.

A 2 - 3 year project, Unity have been working on it for 2 months.

How would it be financed?
GS: The intention is that first raise funds to pay off current debt, then use funds for initial constructions, then refinance it and build stage 2????? Carlton would be debt free at the end of Stage 2.

Didn't make much sense to me, no mention of where the money would come from, other than not from loans I guess.

Sounds like a great facility. Would have everything Carlton would need to compete with the best facilities around the country. Although dreaming up a fantastic facility is the easy part, raising $67m the hard part and SEN didn't report anything on where the money would come from.

Where will anyone sit? Stands being pulled down. Being turned into a community facility. Sounds like there will never be another game played there.

This is just magnificent.

We can't meet our cash flow commitments, we borrow $1.5m from the AFL, we are in it up to our ears with the NAB AND now we are committing to spending $67m to redevelop PP.

FFS pay off the debt, get the AFL out then stargaze these sort of ideas.

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A society grows great when old men plant trees whose shade they know they shall never sit in.

A good reason why they did not explain the source of the funding - it would mean selling off the lease to the ground (that would take the highly unlikely event of all levels of government agreeing) and could mean we lose the right to have the Princes Park as our home base sometime in the future as we would be a tenant of another owner of the ground lease.

THIS IS CRAZY!!!!!!!!!!!!!!!!!!!!!!!!

SMORGON HAS GONE MAD !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Apparently we're suddenly going to have money to pay off that and $67 mill for the redevelopment. Don't know where it's all suddenly coming from.

i didnt understand that part of how we plan to pay for it...or rather...he didnt actually state it. is the orginal 12m included in that 67, or is it a further 67 mil for stage 2? if so...what the @#$%&! are we buying?

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R A D I C A L B R O T H E R S

Inspired by the One-Minute Sculptures of Erwin Wurm

"All in all is all we are..."

I don't get it, why would this cost so much - Lexus Centre wasn't half this (or was it). How do we benefit in spending so much money - investment vs return???? And yes - who is paying for it again?

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Between our dreams and actions lies this world

Whoever buys the lease from us - the ground might get up-graded - but we lose our ownership of the lease.

WE COULD BECOME TENANTS OF COLLINGWOOD!!!!!!!!!!!!!

I think you mean sub-tenants - they would be the head tenant - obviously the city of melbourne still the landlord

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Between our dreams and actions lies this world

So how is it different to this for 10.7 mil?
http://carltonfc.com.au/default.asp?pg=redevelopment&spg=display&articleid=302033

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“Every single element of the Club has to be the best in the league, meticulously and methodically, and only by doing this will we be elite and challenge for number 17.”
Greg Lee

More detail on the plan on SEN after the news.

Underground carpark, didn't big jack get rejected on this.