But will it solve the problem?
ORFU and Dunedin City Council are in talks to avoid the formers liquidation..
Where does that leave the latter if their ratepayers, already being rated for the Forsyth Barr Stadium, if they are required to absorb the $400k the City Council is owed.
I have a lazy tenner says the incumbents who are the present authors of the current precarious financial mess will still be there to carry on carrying on.
If The Otago Union can get a commitment for the All-Black Tests and Highlander games they are asking for, the immediate future of the New Stadium will be in an enhanced position and that will be a relief for the Ratepayers many of whom opposed the expenditure originally. If I was a City Councilor I would want some serious commitment that the Union will make the major changes needed to prevent another crisis in the near future. Any attraction of funds to the FB stadium will be a drain on the proud southern Highlander franchise partner and I will be betting they are struggling also.
That may be doing what some of the other minnows in the expanded 1st division are doing and seeking a lower level of payment to their playing roster even dare I say it have some of the emerging players actually having a second job. Maybe the ORFU could contract a garbage run and do the fitness/roadwork and earn some extra income.
Writing off debt is only a solution if the beneficiary of the debt write off makes the hard calls to change the path that placed them in danger of liquidation. That does not address the other $2million of debt, but it could be a first step
1 hour ago