Priority is getting the Commonwealth Bank to recognise the 36ers' lease for 2012/13. Not just until the end of the sale process, but the end of the NBL season.

As I understand it, CBA will look to sell the Arena to recoup money owed by Groves. Groves will be harassed for the remainder. CBA answers to shareholders and also (oddly) Groves (given that they will be pursuing him for whatever they can't get in a sale) so it may be in their interests to maximise the appeal of the venue to potential buyers. One part of that is having it lease-free after the sale period (end of the year?).

Not 100% on all this, but I imagine that even if the government were to step in and help, the full sale process would need to be followed and CBA would resist confirming a lease in the interim? Not sure what options would be available in this case.

Anyone in the know like to speculate the chances of a new lease being agreed to so we can play out the current season.

Are we miles apart in terms of $$$ or are the CBA stating that they will not entertain entering into a new lease while it is on the market? If this is the case you'd have to say that it is unlikely to sell and settlement go through before 7/10 (season start date).

CBA will want to offer the most flexible terms possible to a potential buyer.

A potential buyer may actually want the 36ers to stay on. After all what good is a basketball stadium without a basketball team?

The CBA will be wanting to cover off their legal obligation in obtaining the largest sale price possible. Hence their desire for flexibility in the off chance they find someone that wants vacant possession and therefore may pay more.

By not acknowledging the 36ers lease it gives the CBA utmost flexibility in the sale process. a bit like selling a house that has a tenant in it, you may want to move in straight away but cant due to the tenant.

Of course CBA may well have an issue that they are simply ignoring the 36ers lease in the first instance. The 36ers could potentially have recourse against CBA now because of the way they have potentially harmed the 36ers commercially.

Any sensible buyer would want prolonged due diligence on the purchase to completely cover the current restrictions and to have the necessary conversations with council about any plans they may have. A DD period of 90 - 120 days is not uncommon for this type of transaction.

A minimum of 30 days for settlement to occur post due diligence.

For mine this highlights how poor sports amenities are in this state. There are a number of other lessor sports in this state that are able to use state facilities.

Would love to think someone out there is thinking of the big picture and looking to put a roof on top of Memorial Drive to make that the 36ers new home.

I was the one that set up the page, so i would appreciate any help on how we get thru to the right people, whether it be at CBA or government Representatives...

Cheers

I hope the recent local who won 50million in the Powerball is reading this forum and saves the club and arena.

Media have shown some interest in the fan campaign and are keen to have callers. Call up for Drive Time on 891 at 17:15. They may want someone to call through now and prepare a specific time to discuss it? Give it a crack if you want.

Key points are:

- awkward situation in the sales process means that an important NBL club are on unsteady footing and can't secure their previous lease with past owner
- thousands of people enjoy going to the games and following the club
- the 36ers have put together a promising team for this season (starting early October) and fans are keen to see them play
- alternative venues are either booked already, or too small
- fans are hoping that the Commonwealth Bank can confirm the lease for the 36ers so they can play this season

Actually, CBA might not be able to confirm the lease (see my previous comments and BJF's points above), but would there be legal reasons they couldn't put back a sale settlement to after NBL finals?

They might get stuck paying interest for that extra period, but at least that's a manageable financial position (could be offset by sponsorship/naming-rights) rather than the uncertainty of legal threats.

Groves might not have legal recourse if it were argued that a longer process could find more interest. Shareholders (unlikely to fire up anyway) could be deterred by noting the contra deal with sponsorship.

---

Other than that, I guess the hope is to play on sans-2013-lease, and hope the government comes to the party in time to allow the club(s) to continue from that point?

only other tangible use is a church,

and from all accounts Edge are hovering around like vultures waiting for the death

Could be used for a lot of things, though there are restrictions that say it cannot be used for live music.

Remember that the area itself is not that big (doesn't include the car parking lawn areas) so it couldn't be an extensive complex. Also might not be suitable for residential development.

Hey everyone, I'll be on 891 ABC Adelaide, Drive radio with Michaela Smyth, tonight around 5:15 talking about my page: Online Petition To Get Our Local Government To Save The Adelaide Arena
Please tune in to hear me talk about my passion for the Arena and my team The Adelaide 36ers
Cheers

Is it possible to be used as both a basketball stadium and a church?

So much for their ad campaign that says CAN!! Clearly they WONT!!

Any chance we could do them for false advertising ;o)

Tru Blue, thanks for stepping up!

With all the donations from the government into other sports and the support they have given in building stadiums surely the government needs to step the F$%K up and buy the place.

Sick of bball being last.

on that..minister for sport Tom Kenyon

http://www.ministers.sa.gov.au/ministers/hon-tom-kenyon-mp.html

[email protected]

Hi Isaac, I ( and maybe a lot of other people ) aren't savvy with social media.
Could you set up a petition on here that we can sign , and collect our votes that way?

Perhaps a certain south australian uni can have another crack and put money (without knowing) into bricks and mortar to SOS

They're too busy sponsoring the South Adelaide Panthers

Oh please let Flinders drop some cash into it, would be hilarious.

Relocate Arena to Tonsley Park

Hey Fill Smythe, if you already have a Facebook account then all you have to do is like the page, even share it around, it all helps.
The pages numbers have increased exponentially since its inception only 8 hours ago, and has already had media coverage with hopefully more to come,
That's the power of social media...
www.facebook.com/SaveTheAdelaideArena

I was hoping to hear you at 5.15 , when there came a knock upon the door and I missed you .
One of the first stories on ch9 news last nite , they ran a '36ers will be homeless'

Please get on board

Opps forgot the link code lol www.facebook.com/SavetheAdelaidearena

Possibly good news:

" Dear Adelaide 36ers Members and Fans,

The Adelaide 36ers are pleased to have received news today that indicates they will remain at the Adelaide Arena for the duration of the 2012-13 NBL season.

I received a phone call this morning from Ferrier Hodgson, agents of the Commonwealth Bank, to advise they will, on Monday, receive formal lease documents.

It was the news that we have all been waiting for - it's a huge relief for us.

Today’s verbal advice indicates that the Club will remain at the basketball venue for the coming season.

The Club has a few formalities to go through next week, but the call today strongly indicates that we can now fully focus on getting the 36ers on court on October 7.

This process has shown us how much support we have from you; our members and fans across South Australia – you have been outstanding in voicing your support for us.

We look forward to seeing you all at the Adelaide 36ers first home game at Adelaide Arena on October 7, against the Melbourne Tigers.

The Club would love to see a full house and we encourage those that have yet to purchase their membership for the 2012/13 season, to contact the Club on 8345 0900 about renewing.

Thanks for your support and see you on October 7.

Sincerely

Leeanne Grantham
CEO
Adelaide 36ers Pty Ltd"