AMI secures naming rights to new stadium

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networkn

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Topic # 99637 23-Mar-2012 16:06

Umm WTF!?!!?!?

They just got a bail out to pay peoples insurance claims and now they have $30M for naming rights?

mattwnz

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Reply # 599189 23-Mar-2012 16:11

It's been sold to IAG though. But I admit that it isn't a good look, especially as so many people still haven't had their houses fixed or payouts from their insurance companies, which you would think would be higher priority than a stadium for just rugby/league.

crackrdbycracku

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Reply # 599242 23-Mar-2012 18:22

Yeah, I feel for everybody in Christchurch.

It seems the priorities simply don't reflect the fact people don't have homes and need them.

I was listening to National Radio a few mornings ago which was focusing on the debate over the cathedral. An 'expert' was saying that the cathedral could be fixed 'very cheaply' only 20 to 30 million. At a cost of $100,000 per new home that is at least 2000 homes, right?

How much to keep the stadium going?

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mattwnz

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Reply # 599248 23-Mar-2012 18:27

crackrdbycracku: Yeah, I feel for everybody in Christchurch.?

It seems the priorities simply don't reflect the fact people don't have homes and need them.

I was listening to National Radio a few mornings ago which was focusing on the debate over the?cathedral. An 'expert' was saying that the cathedral could be fixed 'very cheaply' only 20 to 30 million. At a cost of $100,000 per new home that is at least 2000 homes, right????

How much to keep the stadium going? ?

Masonry buildings really aren't suitable for EQ zones. Sure they maybe able to fix it for 20-30, which is what the temporary rugby stands cost, but it would need to be reconstructed on base isolation to be really safe in a EQ, which would cost a lot more. A new house costs a lot more than just $100k. You would be looking at 200k minimum I would have thought for the most basic house, and supply and demand would suggest prices for things will go up

networkn

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Reply # 599260 23-Mar-2012 19:13

mattwnz:
crackrdbycracku: Yeah, I feel for everybody in Christchurch.?

It seems the priorities simply don't reflect the fact people don't have homes and need them.

I was listening to National Radio a few mornings ago which was focusing on the debate over the?cathedral. An 'expert' was saying that the cathedral could be fixed 'very cheaply' only 20 to 30 million. At a cost of $100,000 per new home that is at least 2000 homes, right????

How much to keep the stadium going? ?

Masonry buildings really aren't suitable for EQ zones. Sure they maybe able to fix it for 20-30, which is what the temporary rugby stands cost, but it would need to be reconstructed on base isolation to be really safe in a EQ, which would cost a lot more. A new house costs a lot more than just $100k. You would be looking at 200k minimum I would have thought for the most basic house, and supply and demand would suggest prices for things will go up

House alone I'd would say $1200-1400 (Volume discounts would apply on top) per Square Meter. It's the land that's expensive.

mattwnz

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Reply # 599263 23-Mar-2012 19:48

networkn:
mattwnz:
crackrdbycracku: Yeah, I feel for everybody in Christchurch.?

It seems the priorities simply don't reflect the fact people don't have homes and need them.

I was listening to National Radio a few mornings ago which was focusing on the debate over the?cathedral. An 'expert' was saying that the cathedral could be fixed 'very cheaply' only 20 to 30 million. At a cost of $100,000 per new home that is at least 2000 homes, right????

How much to keep the stadium going? ?

Masonry buildings really aren't suitable for EQ zones. Sure they maybe able to fix it for 20-30, which is what the temporary rugby stands cost, but it would need to be reconstructed on base isolation to be really safe in a EQ, which would cost a lot more. A new house costs a lot more than just $100k. You would be looking at 200k minimum I would have thought for the most basic house, and supply and demand would suggest prices for things will go up

House alone I'd would say $1200-1400 (Volume discounts would apply on top) per Square Meter. It's the land that's expensive. ?

2000 sqm for a standard spec these days. It is labour that costs, plus materials in NZ aren't cheap, due to lack of competition. Carpenters earn $60+ per hour these days too.

scuwp

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Reply # 599283 23-Mar-2012 20:47

Anyhow, back on the topic...

Yes it is a bad look no doubt, however the company has been sold so technically it's not the same company even though it is still trading under the same name.

All I can say is thank heavens they got the stadium fixed up quickly so it can be used again, I mean it's not like those pesky people without houses can't live in a tent for a few more months, as long as we can play footy aye! [yes - sarcasm!]

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Reply # 599286 23-Mar-2012 20:53

Just got my renewal bill from them for house insurance. Understandably the premium has had to go up but it has increased by 37%. I was almost resigned to sucking it up but when they do things like this I think I'll have another shop around.

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mattwnz

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Reply # 599316 23-Mar-2012 22:26

It only holds 18,000 people, which isn't much difference is size from some of these small provincial grounds. I don't think they cost that much to build, and they are permanent. I question why they even need a large 'stadium' for rugby, as most people view it on TV these days, and many people will miss out watching it live anyway, if they used to fill lancaster park, which held 40,000 plus. You could just have people standing around the perimieter of the pitch, and some temporary bench stands. Why rugby watches need seperate seats these days I don't know, as they aren't there for long. The old athletic park used to just have benches and it was fine.

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Reply # 599365 24-Mar-2012 08:17

I havent seen where the $30m figure came from or for how long it covers (I guess years?), but does naming rights ever give a return on investment? As a shareholder or policy holder, Id like to know that money isnt being thrown away that could increase my dividend s or reduce my premiums.

Recently rugby seems to have become a sport that is living outside its means anyway.....

Kyanar

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Reply # 599515 24-Mar-2012 17:27

crackrdbycracku: Yeah, I feel for everybody in Christchurch.

It seems the priorities simply don't reflect the fact people don't have homes and need them.

I was listening to National Radio a few mornings ago which was focusing on the debate over the cathedral. An 'expert' was saying that the cathedral could be fixed 'very cheaply' only 20 to 30 million. At a cost of $100,000 per new home that is at least 2000 homes, right?

How much to keep the stadium going?

I had heard that NZRFU and the IRB contributed a decent amount of the cash, so if that's true then it's not a complete wash.

mattwnz

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Reply # 599517 24-Mar-2012 17:29

SpookyAwol: I havent seen where the $30m figure came from or for how long it covers (I guess years?), but does naming rights ever give a return on investment? As a shareholder or policy holder, Id like to know that money isnt being thrown away that could increase my dividend s or reduce my premiums.

Recently rugby seems to have become a sport that is living outside its means anyway.....

It must do, otherwise why would they do it. It would come out of the advertising budget. It gets the companies name out there.

minimoke

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Reply # 599556 24-Mar-2012 19:14

SpookyAwol:

Recently rugby seems to have become a sport that is living outside its means anyway.....

Not only that but its also wrecking other business. Just ask local business how impressed they were to turn up to their shops this morning to find cones stopping parking out the front. That's a days lost trade for the poor buggers.