A consortium led by Australian Football League chairman Mike Fitzpatrick has bought control of Sydney's ANZ Stadium, it was announced yesterday.
ANZ (Australia and New Zealand Banking Group)’s infrastructure arm ANZIS, which owns the stadium amongst around $1 billion of funds under its management, is being sold for more than $30 million.
The move follows a decision by ANZ, the fourth largest bank in Australia, to exit alternative asset businesses including private equity and securities lending.
Former Aussie Rules player Fitzpatrick, who has been an AFL commissioner since 2003, will take a 50 per cent stake in ANZIS.
As AFL chairman, Fitzpatrick said he will sit out of any discussions involving the AFL's plans to increase its use of the stadium.
“As Chairman of the AFL and as the proposed chairman of ANZIS and its investment committee, I will absent myself on any issues relating to ANZ Stadium, at either ANZIS or the AFL and will receive no papers on the ANZ Stadium,” he said.
Stadium Australia, presently known as ANZ Stadium, hosted the 2000 Summer Olympics and the 2003 Rugby World Cup final.
