Carisbrook Trust chairman Malcolm Farry says reports of the Awatea St, Dunedin, stadium costs blowing out to $400 million were "utter nonsense".
Mr Farry dismissed the claim, by a University of Otago senior lecturer.
In a submission to the Otago Regional Council, Dr Robert Hamlin, of the University of Otago's School of Business said the actual cost of the stadium would exceed $400 million.
Using the stadium as an example to students studying feasibility studies, Dr Hamlin said based on other examples of stadiums, costs for a roofed stadium would almost certainly balloon.
"The track record for projects of this size is not good."
Citing construction , land acquisition and rerouting SH88 costs, the project could be more than $400 million to be built and ratepayers simply could not afford the project, he said.
While two options had been touted - to build the stadium or not to build it, there was also a third to consider, he said.
"Even if we have a modest overspend you could still reach the point where the city could not afford to complete the stadium."
Mr Farry said yesterday the claim "was not based on any facts whatsoever".
He had not read Dr Hamlin's 18-page submission to the ORC. "We have much more to do than read reports that are a nonsense".
Labelling the $400 million price tag as "ridiculous", Mr Farry said rather than approaching the trust and asking about the facts, people, including the media, were reporting "gross misrepresentations".
He said the final cost of the stadium would not exceed $188 million, land purchases would be significantly under the reported $35 million, and it would be a multipurpose facility.
Trust members were working for the community, not themselves, and it was disappointing when they were attacked for all their efforts, he said.
Mr Farry could not recall anyone approaching him on the street to express their concern over the stadium, but "people come up to me on a regular basis . . . saying: `Don't take notice of the people who write letters to the editor'."
The interest in the stadium meant he had experienced the odd "moments of concern" about the project.
"But we find solutions. If there is no solution we withdraw," Mr Farry said.
Awatea St stadium
- Claim: The final cost of the stadium would exceed $400 million.
- Response: The final cost will not exceed $188 million.
- Claim: Land purchases are $35 million.
- Response: The figure is " out by significant millions".
- Claim: The stadium will be used for rugby only.
- Response: The stadium is designed for a range of activities, including social, cultural, research and sporting uses.
