Football Park precinct sold to developer by SA Football Commission
A developer and the South Australian Football Commission have signed a deal for the Football Park precinct in Adelaide's western suburbs to be transformed over the next 10 to 15 years.
The SANFL received an immediate payment of $10 million from the deal with Commercial and General, and said the money had been transferred to the AFL to reduce debt.
From 2016, the local league will get progressive payments totalling another $61 million by 2027 during the staged redevelopment of the West Lakes precinct.
Football Commission chairman John Olsen said the sale process had been lengthy.
"We are pleased to have achieved this outcome after a very lengthy and detailed evaluation process," he said.
"By securing an upfront payment of $10 million we have been able to extinguish our debt with the AFL, money we borrowed as part of the $16.25 million we gave to Port Adelaide to keep the club viable ahead of the move to Adelaide Oval.
"AFL football, league football, club football in South Australia will be the beneficiaries - in no debt and [with] the opportunity then to build a future fund for football."
Mr Olsen acknowledged there was a tinge of sadness about ending decades of association with West Lakes.
"For many within the SANFL, the decision to leave AAMI Stadium for Adelaide Oval has been a very emotional one," he said.
"With the signing of this agreement we have secured a legacy for our code and one that will benefit football across the state.
"This precinct has been an important part of life in West Lakes for 40 years and we would like to assure the local community that it will remain so."
Crows will retain training base
Mr Olsen said the commission had an obligation to the Adelaide Crows to maintain the main football oval as a training base.
Much of the development for the site will be high-rise apartments in the area bound by West Lakes Boulevard, Frederick Road and Brebner and Turner Drives.
SANFL chief executive Jake Parkinson said the financial return from the sale and redevelopment would be a vital boost for football in South Australia.
"We invest more than $4 million into football programs every year, including game development programs, diversity and multicultural programs, regional development programs, high-performance programs and umpiring," he said.
"Another $4.7 million is provided to the SANFL league clubs in game development grants to help provide the pathway for players striving for a career in the AFL, so this money is absolutely critical to our future."
Adelaide Football Club will retain a lease over the training ground area until 2048.
The other 23.5 hectares are expected to become at least 1,600 properties.
Commercial and General said it would consult the local community as it made plans for the site.
