Mirvac hot for Telstra Dome

Giant property developer Mirvac is understood to be the preferred bidder for the management rights at Telstra Dome. The company, which bought Waverley Park from the AFL four years ago, is believed ready to finalise the purchase from the Seven network.

It would hold the management rights for the 19 years until the AFL assumes ownership and total control of the Docklands stadium.

Mirvac is expected to pay $250 million-plus, a figure that would surprise most industry observers aware of the Dome's long struggle to make money.

It paid $110 million for the Waverley Park precinct in December 2001 and has built homes around much of the old ground and the heritage-listed remnants of the grandstand. The management rights include naming, signage and food and beverage rights, the Medallion Club and public parking.

Mirvac's managing director Greg Paramor did not return a call from the Herald Sun yesterday. Seven network executive Ian Johnson said: "I'm not discussing Telstra Dome with anybody. Nobody is."

Whatever the state of play between Seven and Mirvac, neither party has contacted the AFL, the body responsible for 90 per cent of the Dome's traffic.

AFL chief executive Andrew Demetriou told the Herald Sun a month ago: "If there's a preferred bidder and they haven't spoken to us, we're very surprised." Asked if he was angry, he said: "I'm not angry; very surprised, very surprised."

Telstra Dome's Ian Collins said recently the AFL had been denied the information pack on the Dome because it would not agree to sign a confidentiality agreement.

Mirvac is believed to have a long-term interest in the area given the rapid residential development and the likelihood Telstra Dome will be superseded or in need of a major upgrade in 20 years.