The Beavers’ Beavers football club has received a major boost with a $50 million, 80-year lease extension, bringing its total stadium lease to $1.1 billion.
The $5.1 million contract for the new stadium at Beavers Park in Beavers has been awarded to the Sydney-based company BKC Group, which is a subsidiary of the Beavs Football Club, and will come into effect on April 1.
The deal was signed off by Premier Barry O’Farrell and Prime Minister Kevin Rudd last week.
The stadium lease was signed back in 2008 with the previous owner, the Beavis Group, to run the stadium for five years.
It expired in 2018, when the NRL took over the lease and was subsequently sold to the NRL.
Under the new deal, BKC will manage the stadium and host its matches.
It is understood the new owner is seeking to build a new stadium, which would cost $1 billion to build and will include an extension to the existing stadium.
The new stadium will be the second in Australia to be run by a local business and will play host to some of the country’s biggest sporting events.
It was originally built in the 1970s, but it was upgraded and upgraded in the 1980s and 90s and the Beaver Stadium is now in a state of disrepair.
In June, the state government announced it would spend $1 million to build the new football stadium, with an option to extend the lease for another five years to 2035.
The NRL will now have to negotiate the new lease and will have to come to an agreement with the new owners.
Premier Barry O the Australian Government announced the lease extension on Tuesday.
“We are pleased to announce the extension of the existing lease agreement to a new 80-years term, with a new $5 billion lease extension to be signed off next month,” Premier O said.
“The Beavers will continue to be a premier and a significant and growing part of our community.”
Premier O said the new venue will be built alongside the existing Beavers stadium.
“This is an exciting moment for our region, with the Beausoles playing a pivotal role in the development of Sydney and our regional economy,” he said.
The Premier said the stadium lease would provide jobs, stimulate the local economy and provide a vibrant community.
“Our goal will be to continue to grow the Beverly Park community, while also enhancing our infrastructure for future events,” he added.
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