New AFL team, Tasmanian Devils, controversial stadium build blows budget by $60 million

The estimated cost of a planned waterfront stadium in Hobart, a condition of Tasmania’s entry into the AFL, has blown out by $60 million over budget.

Developers behind the project on Wednesday released a 4000-page application for the 23,000-seat roofed stadium at Macquarie Point.

The stadium is a requirement for the Tasmanian Devils’ entry into the AFL, slated for 2028.

A $715 million price tag initially trumpeted by the state Liberal government has increased to $775 million, according to the application.

Macquarie Point Development Corporation CEO Anne Beach said the goal was to build the stadium within the $715 million budget.

“It has presented at $775 million ... and then we’ll work through a scoping and value management exercise to bring it to budget,” she said.

“We started at what’s required and we’re working back about what we need to deliver.”

The state Liberal government has pledged to cap its contribution at $375 million and make up any cost overruns via private investment.

The federal government is chipping in $240 million, while the AFL is putting in $15 million.

Tasmanian Minister for Sport and Events Nic Street said there have been informal approaches from private investors.

“We’ll have a formal process in place (and) we’ll be completely transparent with the Tasmanian people about how we go about securing that investment,” he said.

The application estimates the multi-purpose stadium will host 36 to 38 events per year, with an “optimistic” figure of 48 to 51 events.

The fixtures include seven Devils AFL home games, three AFLW home games, two pre-season matches, one cricket Test match and four BBL fixtures.

It also says the venue has the potential to host women’s rugby World Cup games in 2029 and attract international fixtures and World Rugby Sevens Series tournaments.

It will increase Tasmania’s gross state product by $27-32 million per year once completed, the application says.

Ms Beach said the stadium is expected to be ready for the 2029 AFL season, as previously announced.

A wooden-supported clear roof will cost $190 million, but Ms Beach indicated the price has been worked into the design and alternatives featuring light towers could be costly.

The RSL is concerned about the stadium’s visual impact on the nearby Cenotaph, while critics say it is not the right priority for Tasmania.

An independent planning body will assess the application, which must be voted through by both houses of parliament to get the green light.

The state Labor opposition has backed the stadium after pledging to renegotiate the deal with the AFL in the lead-up to the March election.