Global law firm DLA Piper has advised the Australian Football League (AFL) on the landmark acquisition of Melbourne's Etihad Stadium.
The complex deal involved the acquisition of the operating business at Etihad Stadium, the freehold ownership of the stadium, acquisition finance, and the unwinding of a number of original development arrangements.
The DLA Piper team was led by Melbourne Corporate partner David Hallam, together with senior associate Dylan Burke and solicitor Alex Moores from the Corporate team, Real Estate partner Arthur Chong, Finance & Projects partner Monique Stella, special counsel Lisa Hornsby and solicitor Isabella Barnes.
David Hallam said: "Etihad Stadium is a world class sporting and entertainment venue and we're delighted to have advised our client on this landmark deal. The purchase is a significant investment in AFL's future – delivering a major financial boost for their tenant clubs, as well as offering a range of other revenue streams for the AFL. Securing ownership is also an investment in the city's Docklands precinct."
It is expected the AFL will take control of the 53,000 seat stadium early next month.
The AFL will continue to operate Etihad Stadium as a multi-purpose venue, hosting other major sports and a range of entertainment events.