Lifting the finances of Baypark has become a major priority for the newly elected chairman of the under-performing venue.
But Graeme Elvin is not promising an overnight cure to Baypark's financial woes: "It will be a couple of years at least until we get some real traction."
He chairs Tauranga City Venues Ltd (TCVL), the council-owned company which has run Baypark since the council bought the venue off Bob Clarkson three years ago.
Baypark continues to rack up hefty annual losses, with TCVL's annual returns showing that the operation would have run at a $1.1 million deficit this year if a $2 million grant from TECT had not been treated as "revenue". The deficit for the previous year was nearly $600,000.
TECT's $2 million was the first instalment of its $6 million grant towards construction of the $39 million Sport and Exhibition Centre.
Mr Elvin said it was difficult in the current financial climate to achieve a quick turnaround but the board had hired a business manager, Karen Gemmell, to work on improving the fundamentals. Her job included attracting new events to Baypark.
Mr Elvin said Baypark's loyal corporate box holders have not had a lot to cheer about but he was determined to change that.
"There are a few challenges for us."
Another important element in Baypark's recovery was the board itself which he said had a good balance of skills.
The operational structure of Baypark set up by former owner Bob Clarkson was in transition to a "different beast", he said.
Mr Elvin also hoped his rugby background, including chairing the Chiefs Super 14 rugby franchise, would bring real synergies, although he would have to manage potential conflicts of interest.
Meanwhile, TCVL's former acting chairman John Adshead remains upbeat about the future of Baypark. He stepped into the breach at short notice last January after Grant Seagar resigned as chairman. Tony McCartney had also just resigned as a director.
Mr Adshead stayed in the role until replacement directors Daryl French, Bernie Gillon and Mr Elvin had settled into their positions and the new board was up and running. He said he declined continuing as chairman.
"It is not a job I wanted ... when it gets into certain aspects of finance, I get a bit lost - it's not me."
Mr Adshead described himself as an ideas man and worker ant who was good at communicating with people.
He continues to have a "massive belief and passion" for Baypark and it was a real blow when TCVL withdrew its bid to host the Australasian round of Speedway Grand Prix - the world speedway motorcycle championship.
The financial commitments required were beyond TCVL and the permanent track changes could have had a major impact on existing users, speedway and rugby.
Baypark will get a huge boost next year when the $39 million Sport and Exhibition Centre opens.
Finances priority for new Baypark chief
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