Adelaide Football Club
Services Provided
Full Banking & Finance Tender
Project Overview
The Adelaide Football Club is embarking on the biggest and most exciting project of their 34-year history – the development of a new AFL industry-leading Training & Administration Facility based at Thebarton Oval.
Total development cost is in the vicinity of $100 million.
Industry: AFL Club
The Challenge
While there are significant contributions from all three levels of Government in addition to the AFL and the Club itself, that still left a funding gap. Therefore, a market-leading construction debt facility was required, and it was considered appropriate by the Club to test the market and seek alternative finance options.
The Solution
Glengyle Finance, working closely with the Club, put together an extensive Request For Proposal to four major banks in addition to their existing bank. After considerable development changes and negotiations, the Club received an outstanding finance offer that is more than adequate to complete the development, with pricing, terms and conditions significantly better than expected.
Testimonial
“Choosing to engage with Glengyle Finance to assist with securing debt funding for the Adelaide Football Club was the best decision we could have made. Having worked with Craig as our banking relationship manager for a number of years, we had complete confidence that he would deliver the desired result.
In the end, Craig exceeded these expectations and was able to deliver multiple offers from banks, all of which offered surplus headroom, with longer terms, at lower rates, with lower principal repayments and more comfortable covenants than was anticipated.
Craig has played a pivotal role in supporting the Crows on our journey towards a new home in Thebarton.”
David Cursaro, General Manager Finance
