Eastern suburbs friends Darcy,Luca,Kurtis and Christian enjoying live music at the Sidney Myer Music Bowl in 2021.Credit:Chris Hopkins
However,The Age can reveal that the proposal for a new 3500-capacity live music space in Melbourne was developed by Live Nation,a US company whose third-biggest shareholder is Saudi Arabia’s Public Investment Fund,which is controlled by Saudi Crown Prince Mohammed bin Salman.
According to documents prepared for cabinet and obtained byThe Age,Live Nation approached the government with a plan to construct a new venue in Docklands to “fill a known gap in the Melbourne event and performance landscape” and host more than 100 shows a year.
Live Nation costed the venue at about $20 million and was seeking a financial contribution of $5 million from the state government. According to the documents,the proposal was supported by Development Victoria,the government’s major projects arm.
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While the proposal for the performance space was led by Live Nation,the documents say the venture “may need to be market-tested for value,as other players in the industry may also wish to be considered in achieving these outcomes”.
Industry sources said that even if the operation of the venue was put out to tender,the fact that it was proposed by Live Nation gave the company an advantage.
The Victorian government did not answer questions about Live Nation’s involvement in the proposal,but a spokesperson said:“The Andrews Labor government has allocated $5 million,in partnership with the City of Melbourne,to create a pop-up live performance venue which will attract new audiences and activate underused parts of the CBD.”