Vision 2030 Newsletter #2
12 November 2014  

In this second edition of Vision 2030, I will bring you up to date on progress of the WACA’s Future Development Strategy Committee (FDSC).

I am pleased to advise that the Perth office of global commercial advisory firm Ernst and Young (EY) has been appointed to develop a business plan for the future development strategy for the WACA.

EY has specific experience with the Perth Stadium market, including the WACA, the new Perth Stadium and Patersons Stadium. In addition, EY was an advisor on a number of business case projects including Adelaide Oval redevelopment.

EY has drawn together a strong team for this project, which will be overseen by EY Managing Partner Western Region Mike Anghie, and led by EY Partner, Infrastructure Advisory Greg Dobson. The team will draw on local and national sports and events venues sector knowledge and expertise and importantly will provide specialist insight to identify opportunities and highlight and mitigate risk.

I am also pleased to advise you that Perth Barrister Tom Percy QC, who was recently elected to the WACA Board, has been seconded to the FDSC. Outgoing Board member Alan Rule has kindly agreed to remain with the FDSC to ensure continuity through this next critical phase.

FDSC Chairman Mike Smith and his subcommittee are continuing to make good progress with the challenging assignment and I am confident that the final outcome will be in the best long-term interests of WA cricket.

The next steps

EY’s team will work closely with the FDSC during the coming weeks ensuring that the business plan considers all stakeholders including the WACA Members.

The three-stage approach will initially identify the options and uncertainties, work through a period of refinement and then finally agree on the most appropriate way forward in the final stage.

Stage I

Financial modelling, joint venture analysis and a model for cooperation with the WAFC.

Stage II

Refine the options for future development including the business plan.

Stage III

Finalise the business plan (2015 to 2030)

This will include:

  • Long-term financial model incorporating:

- overall capital costs

- forecast of revenue and expenses including investment into the development of sport

- operating costs

- routine and restorative maintenance

- depreciation for the WACA’s operation

  • Proposed implementation plan including estimated timelines and key decision dates
  • Implementation risks and associated management plan

It is anticipated that the business plan will be delivered to the WACA Board in late December and the final recommendation announced to Members and the public in January.

As a reminder, key dates for the coming months are:

  • October/November: Financial modeling
  • End November: Business case
  • December 2014:Final business plan
  • December 2014:Report to the WACA Board
  • January 2015: Announcement to members and public

Feedback from Members

I am pleased by the response from Members who responded to FDSC Chairman Michael Smith’s invitation at the special Members’ Forum to submit ideas for the future of WA cricket. Members can continue to submit suggestions to this site simply by visiting the WACA website www.waca.com.au/vision2030 and clicking on Have Your Say.

A reminder is that this site has useful information about Vision 2030,including credentials of the FDSC members,Terms of Reference, key dates and frequently asked questions; as well as the latest developments and progress with the review.

Keeping you informed

The WACA will continue to keep you informed throughout this important business planning process. I encourage you to visit the WACA website to keep up to date and to contribute to the process with your ideas.

Thank you for your continued interest and participation.

 

Sam Gannon

WACA

Chairman