The controversial move is aimed at raising up to $A3 million a year for the Government. The Melbourne and Olympic Parks Trust has put Olympic Park and the new $A20 million multi-purpose venue at Melbourne Park on the sponsorship market.
The decision is expected to be carried out by the middle of 1999, while the move to seek private sponsorship and change the venue names will cause concern among the sporting community.
The new 10,000-seat, multi-purpose venue is to be completed by January 2000, and will be the main court for the Australian Tennis Open and Melbourne's main basketball and cycling venues. The trust is also selling naming rights to Melbourne Park Function Centre and the Melbourne Sports and Entertainment Centre.
Reuters
