The Future of Stadiums in Queensland: Big Decisions Ahead

The Future of Stadiums in Queensland: Big Decisions Ahead 

by Ryan O’Neill

Queensland’s sporting landscape is on the brink of transformation, with Brisbane’s preparations for the 2032 Olympics sparking debates about the future of our existing stadiums, what new investment may mean, how it should be funded and who should be responsible for the ownership of any assets. 

As an engineer in the civil industry observing discussions around location, funding, and feasibility continue, it’s clear that a decision needs to be made – currently, the 25th of March is the deadline – so that we can get on with the job of making it happen.  

A Stadium Experience in Need of Change

For those who have attended a Broncos or Lions game, the experience is fairly standard: watch the game, grab a surprisingly expensive meat pie or sausage roll, and maybe enjoy an overpriced mid-strength beer.  

Stadiums Queensland currently operates under a model that maintains venues, collects rent, and runs concessions. However, the organisation is not structured to provide the type of premium experience that modern stadium-goers increasingly expect. 

Stadiums around the world have evolved beyond just sports venues; they are now entertainment hubs offering high-end hospitality, event experiences, and year-round activation. The existing model needs re-evaluation if Queensland wants to create a world-class stadium. 

The Legislative Framework

The Major Sports Facilities Act 2001 governs stadium operations in Queensland, with Stadiums Queensland responsible for managing key venues, including: 

• The Gabba 

• Suncorp Stadium 

• People First Stadium (Carrara) 

• North Queensland Stadium 

• Robina Stadium (Cbus Super Stadium) 

• Sleeman Sports Complex 

Any new stadium—unless legislative changes occur—would likely fall under this same model. Current regulations, such as Suncorp Stadium’s limit of 12 concerts and 24 major sports events per year (with attendance over 45,000), highlight the constraints within which Stadiums Queensland operates. Therefore, to give Stadiums Queensland or any operator a chance to succeed, legislative change must accompany any new stadium 

The Economics of Stadiums: Can They Be Profitable? 

When considering stadium development, the financial viability must be scrutinised. If a property investor expects a 5% return on capital expenditure, stadiums fall far short of this benchmark. 

A review of Stadiums Queensland’s financials reveals a concerning picture: 

• Assets: $2.2 billion 

• Revenue: $67 million (~3% return on assets) 

• Government Grants: $82.1 million 

• Expenses: $222.6 million (including $43 million in repairs & maintenance) 

• Operating Profit: -$73 million 

Despite government contributions, the model does not generate positive cash flow. By contrast, international venues such as Allegiant Stadium in Las Vegas generate revenue through premium suites, naming rights, and multi-purpose event activation. If Queensland is to justify a significant stadium investment, revenue models must be reimagined beyond simply hosting sporting fixtures. 

How Much Does a Stadium Really Cost? 

There are differing types of stadium and project types. From completely new builds to renovations, each has differing costs dependant on purpose and level of use.  

Using recent stadium projects in Australia, the UK and US as benchmarks, the costs for a new or upgraded venue in Queensland will be significant. 

Stadium	Type	Cost*	Capacity	Cost per Seat*
Marvel Stadium	New Build	A$875M	53,000	A$17,400
Adelaide Oval	Renovation	A$673M	53,500	A$13,200
Optus Stadium	New Build	A$962M	61,000	A$16,600
Tottenham Hotspur Stadium	New Build	A$1.86B	63,000	A$31,100
Allegiant Stadium	New Build	A$2.63B	65,000	A$42,500

*Value in Australian Dollars – estimated present value

Not an exact science, but based on previous benchmarking of cost per seat, a new Optus-sized stadium (approx. 60,000 seats) would conservatively require $4.0–$8.5 billion in total outturn costs (construction, owner’s costs, risk, PUP, escalation), depending on stadium features, design and location. If privately funded, and requiring a modest 5% return on private investment contributions, assets would demand at least $100 million profit for a single stadium—a target well beyond the reach of a traditional sports stadium model. 

Where to Next? The Options on the Table 

With the highly anticipated stadium review findings due on March 25, the decision-makers have three broad pathways: 

1. Rebuild the Gabba – This is the path of least resistance, as the land is already owned by Stadiums Queensland, and a stadium already exists at the site with utility infrastructure. However, upgrading within the same footprint limits design flexibility and may not fully modernise the offering. 

1. Develop Victoria Park – This presents a ‘middle ground’ option. Brisbane City Council owns the land, which could be acquired through a land swap or sale. However, significant infrastructure investment would be required, and concerns around proximity to residential areas and hospitals must be addressed. 

1. Privately Funded Option – A Build-Own-Operate-Transfer (BOOT) model could allow private investment in a stadium precinct, potentially similar to Allegiant Stadium’s funding structure. However, this would require legislative changes, land acquisitions, and a commercial model that generates sustainable revenue beyond traditional sporting events. 

Final Thoughts 

Queensland’s future stadium infrastructure is at a crossroads. A well-planned stadium can transform a city—generating tourism, jobs, and a world-class entertainment destination. With the March 25 decision deadline looming, we will soon have a clearer picture of what the future holds. However, one thing is certain: if we want a stadium that stacks up financially and enhances Brisbane’s global reputation, we must look beyond the status quo. 

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