In 1993 IOC President Juan Antonio Samaranch announced that Sydney would host the 2000 Olympic Games - and with these words the crowd went wild and the building frenzy began in earnest.
It took nearly 7 years and approximately A$6 billion to build multiple venues that would surpass many sporting facilities existing at that time. And in just 16 days it was over.
So what happens to these venues when the athletes and crowds part ways?
While it may not happen overnight, through good planning and design they can play host to numerous events and activities that continue to attract sporting fans, art goers, familys and tourists all year round.
Over the last two decades enormous transformation has occurred with stadium development across Europe and the UK as the need to find alternative revenue streams became necessary when faced with the challenge to fund facility upgrades to meet new safety regulations.
Whether you’re for or against building these types of venues, no-one can really argue the passion they invoke within a community. Regardless, its important that these facilities don’t become a drain on tax payers - that they’re able to generate their own revenue to remain viable. And it can be done.
Coffey have developed the attached client insight where we discuss the need for good strategic advice around:
- business planning and revenue streams
- best value design
- the construction process
Stadiums shouldn’t aim to be good, they can be great - and we can help.
To view a PDF version of this insight, click here.