Multimillion dollar uncertainty over final stadium cost

The final cost of the stadium is ... unknown.

Six months after the project finished, the Dunedin City Council today admitted it still had questions about the figure, and would fund a $55,000 independent review of the issue.

Mayor Dave Cull said the amount in question was ''in the millions'' but ''not in the tens of millions''.

He would not speculate on what the final cost may be.

A team from the Auckland office of Pricewaterhouse Coopers would arrive in the city next week to undertake the review, which the DCC says will be funded "from existing DCC budgets".

The cost of the stadium with its ''guaranteed maximum price'' contract was understood to have been $198 million, but the stadium was valued late last year at $225 million, and council finance and corporate support general manager Athol Stephens said then‘‘the valuation and the actual cost are going to end up not too far apart''.  

 

 

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