❓ Hon Tom Stephens questions the Minister for Sport and Recreation regarding the financial projections, profit distribution, and operational fees associated with the Kwinana Motorplex.
⏳ Awaiting AnswerQoN 988Legislative Council
QuestionView source ↗
988. Hon Tom Stephens to the Minister for Sport and Recreation:
(1) Is it projected that the Kwinana Motorplex will operate at a profit?
(2) If yes, what is the projected profit?
(3) Who will receive this profit?
(4) It not, what will be the annual input of the Government into the facility?
(5) What fees will be paid by the Claremont Speedway operators and the Ravenswood Raceway to operate from the facility?
The Minister Replied:
(1) The WA Sports Centre Trust will manage and operate the Kwinana Motorplex on behalf of the Government. It is projected that an operating surplus will be derived from revenues received from the speedway and drag racing licensee (Kwinana Motorplex Pty Ltd) and from other activities conducted at the venue.
(2) It is difficult to gauge the impact the move from Claremont and Ravenswood to the new venue will have on speedway and drag racing attendances however an operating surplus in the order of $100,000 p.a. is projected.
(3) This surplus will be received by the WA Sports Centre Trust and will be reinvested in the motor sport industry. Initially any surpluses will be directed towards further enhancement of the Kwinana Motorplex.
(4) N/A
(5) The fees paid by the licensee, Kwinana Motorplex Pty Ltd will be made up of an annual base fee indexed to CPI and a percentage of revenue received from gate takings, food and beverage, other events and activities and venue naming rights sponsorship. The actual amount of revenue received will vary in proportion to the revenues generated from these sources.
(1) Is it projected that the Kwinana Motorplex will operate at a profit?
(2) If yes, what is the projected profit?
(3) Who will receive this profit?
(4) It not, what will be the annual input of the Government into the facility?
(5) What fees will be paid by the Claremont Speedway operators and the Ravenswood Raceway to operate from the facility?
The Minister Replied:
(1) The WA Sports Centre Trust will manage and operate the Kwinana Motorplex on behalf of the Government. It is projected that an operating surplus will be derived from revenues received from the speedway and drag racing licensee (Kwinana Motorplex Pty Ltd) and from other activities conducted at the venue.
(2) It is difficult to gauge the impact the move from Claremont and Ravenswood to the new venue will have on speedway and drag racing attendances however an operating surplus in the order of $100,000 p.a. is projected.
(3) This surplus will be received by the WA Sports Centre Trust and will be reinvested in the motor sport industry. Initially any surpluses will be directed towards further enhancement of the Kwinana Motorplex.
(4) N/A
(5) The fees paid by the licensee, Kwinana Motorplex Pty Ltd will be made up of an annual base fee indexed to CPI and a percentage of revenue received from gate takings, food and beverage, other events and activities and venue naming rights sponsorship. The actual amount of revenue received will vary in proportion to the revenues generated from these sources.
AnswerView source ↗
⏳
This question is awaiting a response from the Minister.
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