Chairman’s Review

2011 was a highly significant year for the year. We thank our partners, the Victorian MCG Trust, being the 150th anniversary of the Government and the AFL in these important appointment of the initial MCG Trustees in 1861. projects.

The occasion was marked with a dinner that The environment facing sporting stadiums celebrated the amazing history of ’s everywhere is changing, perhaps the most sporting ground that has come to mean so rapidly during the MCG’s 150 year life. much to so many. Technology and digital media now occupy a central role in our lives. Only a decade ago few Sporting legends, and John could have conceived that we would now take Landy among them, spoke movingly of what for granted the ability to watch all AFL matches the ground means to them, while to mark anywhere, anytime (especially live) and usually the occasion, one of ’s greatest ever in high definition; that we could broadcast our sporting champions, Cadel Evans, made the thoughts real time to our (keenly awaiting!) outstanding gesture of providing his Tour fellow spectators at the ground via the MCG de France yellow championship bike as a scoreboard; and that we could access enough permanent exhibition for the National Sports live game data and information through our Museum at the MCG. mobile telephones to keep any statistician happy. The Melbourne Ground has for We at the MCG are determined to embrace generations retained its status as Australia’s this societal change and ensure that the MCG pre-eminent sports stadium in no small remains, as it has in prior generations, at the measure due to the commitment of successive cutting edge of global stadium design and MCG Trusts and MCC Committees to ensuring relevance. it remains that way. This remains as true today as it was when the Olympic Stand was built in This means things like Wi-Fi systems that work 1956 for Melbourne’s Olympic Games, the Great for large crowds; larger and higher definition Southern Stand in 1992 for Australia’s only scoreboards; and hundreds if not thousands cricket World Cup, and the new Northern Stand of video boards around the ground able to in 2006 for Melbourne’s Commonwealth Games. provide useful and real time information to patrons such as queue updates and match data Today’s MCG Trust and MCC Committee are relevant to patrons’ particular interests. These giving expression to this desire for excellence innovations and many others are under active through two major projects now nearing consideration now by the MCG Trust and the finality. One is to refurbish and upgrade the MCC Committee through a detailed feasibility Great Southern Stand, the other to improve and study on a high speed broadband-enabled make self sufficient in non-potable MCG. In an era where stadium attendance is water whilst reducing the MCG’s potable water increasingly competing with the armchair at by some 50m/l per year through a major new home, this is an exciting and vital project for water recycling facility. the future of the ground. These projects will provide outstanding long Of course, the MCG can only be in great shape if term assets for the ground. Patrons can the codes that play there are in great shape as already see for themselves the improvement well, and this is clearly the case. in facilities and amenity in and around the TRUSTEES OF THE MCG TRUST Great Southern Stand. We have completed Over 3 million AFL supporters attended a new, large capacity AFL Members’ dining the MCG for the second year running – a Mr John M.R. Wylie AM (Chairman) room; refurbished the Jack Ryder and phenomenal outcome, especially when it is The Honourable John Cain Lindsay Hassett rooms and the Barassi cafe; considered that the average season attendance Ms Anne-Marie Corboy launched a new AFL sports bar (replacing figures prior to the redevelopment of the Mr Robert N. Herbert AM the old Bunton Bar) featuring multiple large Northern Stand was only 2.1 million spectators. Mr Ross Inglis video screens, which has quickly become very The importance of the ground for the AFL is Mr Chris J Lovell (Retired November 2011) popular; and improved the stand entrance reflected in the fact that MCG attendances The Honourable Patrick J. McNamara again represented approximately 43% of total Ms Kathryn (Kate) M Palmer ways. Refurbished , and Mr Anthony Stewart (Appointed April 2012) Legends rooms and additional improvements AFL attendances for the season.

to ground entrances and exteriors are all due M elbourne Cri c ket Ground T rust EXECUTIVE OFFICER to be finished in time for the AFL finals this Mr Graeme Sinclair

1 Chairman’s Review Executive Officer’s Report

In cricket, last year’s Test match at the MCG Trustees and the Ground Attendances against created a new record aggregate attendance (189,347) for matches between our In 2011/12 the MCG has experienced another year of very strong attendances. The ground two countries. The most pleasing innovation has clearly retained its status as the leading major events sports stadium in Australia and is in the code was the launch of the new domestic I thank my fellow MCG Trustees and Executive recognised as the home of Australian sport. Attendance at all events at the MCG during the year 20/20 Big Bash League competition, which Officer Graeme Sinclair for their effort and was 3,502,725, only a slight decrease from the previous year’s record of 3,569,792. quickly won significant public following. valuable contribution again this year. It is a pleasure to work with them. AFL attendances continued to be strong. The continuing good performance by many of the Other Ground Chris Lovell stepped down as a Trustee in Victorian teams during the 2011 season, together with the continued strength of Australian November 2011 after nine years of valuable Rules amongst sports fans in Melbourne, resulted in consistently large attendances at Developments service. We are very grateful for his legal AFL games at the MCG. knowledge, judgement and all-round Cricket attendances were slightly lower with interest in the tour by India not quite matching During the year a statue of Shane Warne was contribution over this time. the level of interest in the previous year’s Ashes Test tour by England. Attendances in the first unveiled as the first statue of the Australia season of the new domestic “Big Bash League” 20/20 cricket competition provided encouraging Post Avenue of Legends outside the MCG. It is I congratulate Tony Stewart on his recent signs of attracting crowds back to the domestic cricket competition. entirely appropriate that the first statue in this appointment as a Trustee for a three year term. series is of one of Australia’s – and the world’s The Trust looks forward to the benefit of his There were no other major events staged at the MCG in 2011/12. – greatest all time cricketers, who over many extensive legal and commercial experience. years thrilled crowds with his performances Finally, congratulations to the MCC at the MCG. We were delighted to see Shane Football management team led by CEO Stephen Gough return to the hallowed turf with the Melbourne and the MCC Committee under President Paul Total attendance at all AFL home-and-away and finals matches was 7,139,272 in the 2011 Stars in the Big Bash League. Sheahan for their continued highly effective season, almost identical with the 7,147,052 in the previous year. Of this total 614,250 attended the finals, which included 99,537 at the at the MCG. The good performance We were also very pleased to see the removal stewardship of the ground. The partnership of the Victorian teams during the year meant that the MCG again hosted seven finals. of live gambling odds during AFL matches between the Trust and is harmonious The MCG’s proportion of total AFL attendances in 2011 was again a very significant 43%. at the MCG at the end of the 2011 AFL season, and effective, and I believe it serves the The average attendance at football matches at the MCG in recent years has continued to grow. following a stance taken by the Trust and interests of all patrons of the MCG and After a further 1.4% increase in the 2011 season, the average reached 56,842, assisted by an the MCC. Australian sports lovers very well. improvement in the average attendance at the finals.

The Trust will monitor with interest the effect on ground attendances of the introduction of new Finances teams into the AFL competition which have virtually no supporter base in Melbourne. This, together with the effect of live telecasts of all games could negatively affect attendances at the Ground finances continue to be strong with the MCG in future years. debt reduction programme running well ahead of projections despite the continued substantial reinvestment in ground improvements. Football Attendance At The MCG

The Trust’s assets were revalued this year Season Total Number of Average MCG Share as a part of a regular five yearly revaluation Attendance Games* Attendance of Total AFL programme. The Valuer General, who at MCG ’000 Attendance conducted the valuation for the first time, ’000 % decided upon significant increases in the values 2011 3,069 54 (7) 57 43.0 John Wylie AM of the MCG land and the Yarra Park land which 2010 3,082 55 (8) 56 43.1 are reflected in the attached accounts of the Chairman Trust. The new values reflect the increasing 30 June 2011 2009 2,792 53 (7) 53 40.0 value of the assets for which the Trust is 2008 2,779 53 (7) 52 39.2 responsible, despite the fact that the values are never likely to be realised. 2007 2,536 50(5) 51 36.0

*Number of games includes finals shown in brackets. rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

2 3 Executive Officer’s Report Executive Officer’s Report

Ground Attendances (CONT) Ground Attendances (CONT)

Average football attendances at the MCG The bright spot in attendances for State cricket in 2011/12 was the introduction of the new 20/20 “Big Bash League” competition. Whilst not strictly an interstate competition, teams were 2011 2010 2009 2008 2007 SEASON SEASON SEASON SEASON SEASON based in all mainland capital cities. For Sheffield Shield matches and the interstate one day competition attendances during the season were again disappointing. Tenant Teams Collingwood 66,861 68,469 54,668 62,321 56,191 State Cricket Attendance at the MCG Hawthorn 48,161 50,278 52,339 52,803 42,206 2011/12 2010/11 2009/10 2008/09 2007/08 Melbourne 35,389 40,232 29,596 32,651 33,998 Richmond 51,924 39,466 49,631 47,474 40,568 Sheffield Shield Number of days 20 20 23 23 15

Other Teams 58,941 63,784 58,974 52,252 55,824 Total attendance 8,771 8,258 20,498 19,764 13,156

Average attendance 461 413 891 859 877 Finals 76,110 70,864 76,071 73,564 82,512

Cricket One-day competition International cricket attendance in Australia in the 2011/12 season was 891,780, a decrease of Number of days 4 5 6 6 4 207,015 or 18% from the previous season, as Australia comprehensively defeated India after losing the “Ashes” to England in the previous year. Test match attendances at the MCG were Total attendance 4305 4,279 10,536 9,613 7,647 the highest for the past five years with the exception of last year’s England match. Attendances Average attendance 1,076 855 1,756 1,602 1,912 for one day internationals and for 20/20 internationals this year were also the highest for several years. Attendances at the MCG represented 34% of total Australian attendances for international cricket matches during the 2011/12 season. Twenty/20 State

Number of days 4* 3# 2 2 2

International cricket attendance at the MCG Total attendance 109,696 59,931 71,177 21,643 25,405

2011/12 2010/11 2009/10 2008/09 2007/08 Average attendance 27,424 19,977 35,589 10,822 12,703

Test Match Number of Days 4 4 5 5 4 tour match 3 2 Total Attendance 189,347 239,165 156,344 174,558 166,663 Number of days Total attendance 7,936 2,673 Average Attendance 47,336 59,791 31,269 34,912 41,666 Average attendance 2,645 1337

One-Day Internationals Number of Matches 2 2 2 2 3 Total attendance 122,772 79,610 102,211 51,020 48,881 Total Attendance 58,860 54,178 41,020 68,017 99,757 * 2011/12 - KFC “Big Bash League” Average Attendance 29,430 27,089 20,510 34,009 33,252 # 2010/11 and prior - Interstate 20/20 competition

20/20 Internationals Number of Matches 1 1 1 1 1 Total Attendance 62,275 58,846 60,074 62,155 84,041

Total Attendance 310,482 352,189 257,438 304,730 350,461 rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

4 5 Executive Officer’s Report Executive Officer’s Report

National Sports Museum in its fight against women’s cancers. A significant event in the Museum’s calendar is the annual MCG Community Day, providing the public with arena access on the day after the AFL Grand Final; this was a great success in 2011. Public programs were delivered in conjunction with Book The National Sports Museum is home to Australia’s premier repository of sports-related collections, Week, Children’s Week, Education Week, National Literacy and Numeracy Week, and the Horses’ and is also the manager of the MCG Tours. Birthday. A number of other activities such as evening talks attracted new and repeat audiences. The Museum’s exhibitions draw proudly on the Australian Gallery of Sport and Olympic Museum A themed tour entitled “The MCG, Sport and War” was launched around 2011. (AGOSOM) collection, developed since 1986 and owned by the MCG Trust. No additions were made to McDonald’s was secured as a new NSM Partner to support the school holiday programs as well the AGOSOM collection this year. as MCG Community Day, replacing Cadbury whose partnership term had come to an end.

The Museum serves the MCG’s match-day patronage, as well as catering for families, schools, The Museum is also pleased to welcome Russell Corp Australia as a new sponsor, and is grateful seniors and tourist groups, seven days a week. The fourth year of operation saw the Museum and for continuing support from Coca-Cola, Spotless, and Weekly Times, the AFL and its the MCG Tours receive visitation of over 135,000 people of whom 8% were international tourists broadcast partners, ISS, and Ticketek. and 32% were from Australian states other than . The Victorian visitation remained steady at around 60%, with 5/6 coming from metropolitan Melbourne and 1/6 from regional Victoria. With support from the Australian Communication Exchange, the Museum became the first Attendance by school groups provided 31% of all visits. A substantial increase in after-hours organisation to introduce Smart Auslan, an innovation that provides an Auslan translation of functions in the Museum, and in tours by corporate groups, has contributed strongly to the business. the Museum’s existing audio tour on the screen of a mobile phone. This is a breakthrough that benefits deaf and hearing impaired Australians. The Museum’s research into the visitor experience reveals a very high level of overall customer satisfaction. The MCG – including the National Sports Museum – is ranked in the top 3 on both TripAdvisor and Lonely Planet’s lists of “things to do” in Melbourne. Finance Some 300 volunteers contribute to this success, with many individuals fulfilling more than one role. Roughly 170 serve as MCG Guides, and a similar number serve as Museum Volunteers. A major The Trust continues to be in a sound financial position with a net result of $5,972,000 in 2011/12 database project was completed during the year, and will not only improve the way we manage our (before contributions to the Club for redevelopment debt repayment purposes and the State volunteers but will also result in many operational improvements. Government grant for landscaping upgrade in Yarra Park) compared with $3,850,000 in 2010/11. Acquisitions to the National Sports Museum collection numbered 35 this year and included a major Payments to the Club totalled $5,885,000 (2010/11, $3,750,000). donation of Teddy Tinling tennis dresses and associated material from former player Judy Dalton. On 30 March 2011, the Trust signed a Funding Agreement with the Victorian Government under Further donations came from North Melbourne footballer Laurie Shipp and the family of the first which the Government will provide $6 million towards the cost of landscaping and capital Indian Test cricket captain Lala Amarnath. The collection also acquired a large painting of swimmer improvements in Yarra Park. This work will be undertaken by the MCC on behalf of the Trust Daniel Kowalski by Peter Bloomfield. over the next three years. The $2 million first instalment of the funding from the Government The Museum was delighted to receive a major loan from Australia’s first Tour de France champion, was received in April 2011 and passed on to the MCC. Cadel Evans, and his BMC Racing team. Evans presented to the Museum the iconic yellow victory bicycle he used on the final day of his July 2011 win in Paris. The loan was arranged by the MCG At 31 March 2012 the Trust held assets valued at over $177 million (2011 $131 million) including Trust as a part of its 150th anniversary celebration. $1.1 million in cash and term deposits. The increase in asset values from the previous year reflected an increase in property valuations for the MCG land and Yarra Park totalling $46 million The Museum’s program of temporary exhibitions and displays continued to provide additional and following a revaluation by the Victorian Valuer General. timely attractions for visitors. In the ISS Exhibitions Gallery, the program featured two major new exhibitions: “Yilowa! Tiwi Footy” and “Hidden History of the MCG”. A range of themes was covered The Trust’s income primarily consists of ground rental from the MCC. The Trust then by the focus case displays, covering Australian achievements in sports as diverse as boxing, cycling, contributes most of it’s net income to the MCC to assist in the repayment of ground golf, rugby, yachting, tennis, hockey and ironman. redevelopment debt. The rent charged is determined in accordance with the ground lease under Annual updates were unveiled in relation to the Australian Cricket Hall of Fame, the Australian which the MCG is leased to the MCC until 2042. Football Hall of Fame, the Australian National Boxing Hall of Fame, the Australian Racing Hall of Fame and the Sport Australia Hall of Fame. Thanks School visits are supported by education resource kits that teachers can download from the Museum’s website. New kits were produced to complement “Yilowa! Tiwi Footy” and “Hidden History I wish to thank the Trustees for their continued support and the MCC management and staff for of the MCG”. Two new programs have been introduced: “Writing Sports” encourages school students their assistance and advice as the Trust has successfully completed another busy year. to develop their writing skills, while “EYE Spy” enables small groups of young learners to focus on specific objects in the museum and connect them to stories about the owner of each object.

Two plays were commissioned from Two Friends Productions to enrich student and family understanding of popular themes.

Ms Ponch Hawkes, a Melbourne photographer, commenced her National Sports Museum Basil Sellers Creative Arts Fellowship for 2011-12. The commitment of Mr Sellers to the Fellowship program is much appreciated. Graeme Sinclair The Museum completed the “Great Netball Shootout” to develop awareness of careers in the rail Executive Officer sector amongst girls and women, with generous sponsorship from United Group Limited, and rust M elbourne Cri c ket Ground T rust 30 June 2012 M elbourne Cri c ket Ground T rust hosted a “Girls Night in the Museum” as a fundraising initiative to support the Cancer Council

6 7 the trust statement of financial position

AS AT 31 MARCH 2012 Notes 2012 2011 Annual Financial Report $’000 $’000 for the year ended 31 March 2012 CURRENT ASSETS

Cash and cash equivalents 10 (b) 1,085 1,013

Trade and other receivables 5 97 93

TOTAL CURRENT ASSETS 1,182 1,106 statement of comprehensive income NON-CURRENT ASSETS Property, plant and equipment 6 165,000 118,203

Other non-current assets 7 11,760 12,150 YEAR ENDED 31 MARCH 2012 Notes 2012 2011 $’000 $’000 TOTAL NON-CURRENT ASSETS 176,760 130,353

Revenue 3 6,101 3,961 TOTAL ASSETS 177,942 131,459 Operating expenses 4 (129) (111)

Net result before contribution to the Melbourne Cricket Club CURRENT LIABILITIES (“the Club”) 5,972 3,850 Trade and other payables 8 18 29

TOTAL CURRENT LIABILITIES 18 29 Contribution to the Club for repayment of Great Southern Stand and Northern Stand Re-development debt (“Re-development Debt”) 16 (3,885) (3,750)

TOTAL LIABILITIES 18 29 Contribution to the Club for Yarra Park landscape upgrade 16 (2,000) -

NET RESULT FOR THE YEAR 9 (c) 87 100 NET ASSETS 177,924 131,430

OTHER COMPREHENSIVE INCOME TRUST FUNDS

Fair Value Revaluations: Accumulated funds 9 69,957 69,870

Crown land - MCG 9 (a) 12,417 - Reserves 9 107,967 61,560

Crown land - Yarra Park 9 (a) 34,380 - TOTAL TRUST FUNDS 177,924 131,430

Australian Gallery of Sport and Olympic Museum Collection (“AGOS-OM 9 (a) (390) - The accompanying notes form part of these financial statements. Collection”)

Other Comprehensive Income for the year 46,407 -

Total Comprehensive Income for the year 46,494 100

The accompanying notes form part of these financial statements. rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

8 9 statement of changes in equity statement of cash flows

YEAR ENDED 31 MARCH 2012 Accumulated Other Total YEAR ENDED 31 MARCH 2012 Notes 2012 2011 Funds Reserves Equity $’000 $’000 $’000 $’000 $’000

CASH FLOWS FROM OPERATING ACTIVITIES Balance at 31 March 2010 69,770 61,560 131,330 Payments to suppliers (154) (103) Changes in Equity Interest received 65 62 Transfer from accumulated funds - - - Ground lease rental from the Club 4,440 4,289 Result for the year ended 31 March 2011 100 - 100 State Government of Victoria contribution – 2,000 - Other Comprehensive Income - - - Yarra Park landscape upgrade

Balance at 31 March 2011 69,870 61,560 131,430 Contribution to the Club for repayment of (4,274) (4,125) Changes in Equity Re-development Debt

Transfer from accumulated funds - - - Contribution to the Club for Yarra Park landscape upgrade (2,200) -

Result for the year ended 31 March 2012 87 - 87 GST cash flows 195 14

Other Comprehensive Income - 46,407 46,407 NET CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES 10 (a) 72 137

Balance at 31 March 2012 69,957 107,967 177,924 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 7 2 137 The accompanying notes form part of these financial statements. Cash and cash equivalents at beginning of year 1,013 876

CASH AND CASH EQUIVALENTS AT END OF YEAR 10 (b) 1,085 1,013

The accompanying notes form part of these financial statements. rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

10 11 NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS (CONTINUED) 31 MARCH 2012 31 MARCH 2012

1. MELBOURNE CRICKET GROUND TRUST (“THE TRUST”) INFORMATION 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d)

The first Trustees of the Melbourne Cricket Ground (“MCG”) were appointed by the Victorian Government in 1861. The Trust (b) Statement of Compliance (cont’d) was established as a body corporate incorporated under the provisions of the Melbourne Cricket Ground Trust Act 1989 as the Accounting policies are selected and applied in a manner which ensures that the resulting financial information satisfies the successor to the unincorporated Trustees who held office under the Melbourne Cricket Ground Act 1933. The 1989 Act provided concepts of relevance and reliability, thereby ensuring that the substance of the underlying transactions or other events is that the assets and liabilities of the Trustees became the assets and liabilities of the Trust. The 1933 and 1989 Acts were reported. repealed in 2009 with the provisions re-enacted in the Melbourne Cricket Ground Act 2009 (“The Act”). New and revised Australian Accounting Standards and Interpretations issued by the AASB which are mandatory to the reporting The Trust was appointed as the Committee of Management for Yarra Park effective from 15 March 2010 under the terms of the period ended 31 March 2012 and the comparative information presented for the year ended 31 March 2011, have been adopted Melbourne Cricket Ground and Yarra Park Amendment Act 2009 (“Yarra Park Amendment Act”). by the Trust. The adoption of these standards did not have a material impact on this financial report and is not likely to affect future periods. The registered office of the Trust is located at: Some new accounting standards, amendments to standards and interpretations have been published that are not mandatory Melbourne Cricket Ground for 31 March 2012 reporting periods. The Trust has not applied them in preparing this financial report and minimal impact is Yarra Park expected to arise from their application in future reporting periods. Jolimont Victoria 3002 (c) Cash and cash equivalents The principal activities of the Trust during the year were the formulation of strategies to maintain the MCG’s status as a leading For the purposes of the cash flow statement, cash includes cash on hand and in banks, and money market investments readily provider of premium sporting content, and the management of Yarra Park. Ultimately, the Trust oversees the Club’s ground convertible to cash within two working days, net of outstanding bank overdrafts. Interest is charged as an expense or revenue as management role. it accrues. There was no significant change in the nature of these activities during the period. (d) Trade and other receivables Trade receivables are recognised and carried at original invoice amount less an allowance for any uncollectable amounts. An 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES allowance for doubtful debts is made when there is objective evidence that the Trust will not be able to collect the debts. Bad The principal accounting policies adopted in the preparation of the financial report are set out below. These policies have been debts are written off as incurred. consistently applied, unless otherwise stated. Receivables from related parties are recognised and carried at the nominal amount due. (a) Basis of preparation (e) Yarra Park The financial report is a general-purpose financial report, which has been prepared on an accrual basis in accordance with Yarra Park (the parklands that surround the MCG) was permanently reserved as a public park in June 1873. Since 1917, the Australian Accounting Standards, other authoritative pronouncements of the Australian Accounting Standards Board (“AASB”), Council of the City of Melbourne (“the Council”) has been appointed as the Committee of Management for Yarra Park. The Yarra Interpretations and the Financial Management Act 1994. The financial report has also been prepared on a historical cost basis, Park Amendment Act revoked the appointment of the Council and appointed the Trust as the Committee of Management for except for land and the AGOS-OM Collection, which have been measured at fair value. Yarra Park, thereby expanding the functions of the Trust and specifying the management arrangements and the implementation The financial report is presented in Australian dollars. of an Improvements Plan for Yarra Park.

(b) Statement of compliance Under the Yarra Park Amendment Act, the Trust also assumes responsibility for car parking arrangements, receiving advice from the Yarra Park Advisory Committee on the operation and management of Yarra Park, and the honouring of existing licences In the application of Australian Accounting Standards, management is required to make judgements, estimates and assumptions and contracts established by the Council. Further, any money received by or on behalf of the Trust in relation to Yarra Park may about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and associated only be spent on the operation, management, maintenance and improvement of Yarra Park, and such monies received and spent assumptions are based on historical experience and various other factors that are believed to be reasonable under the must be separately accounted for in the financial report. circumstance, the results of which form the basis of making the judgements. Actual results may differ from these estimates. The Yarra Park Amendment Act also allows the Trust to delegate its functions and responsibilities for Yarra Park to the The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised Melbourne Cricket Club and it has done so via the execution by the Trust, the Club and the relevant Ministers of a formal in the period in which the estimate is revised if the revision affects only that period or in the period of the revision, and future Instrument of Delegation and Second Deed of Amendment to the MCG Management and Indemnity Deed. These agreements appoint periods if the revision affects both current and future periods. and allow the Club to fulfil all of the responsibilities assigned to the Trust under the Yarra Park Amendment Act. Judgements made by management in the application of Australian Accounting Standards that have significant effects on the During the year, the Trust received a grant from the State of Victoria under the terms of a funding agreement in relation to financial statements and estimates with a risk of material adjustments in the next year are disclosed throughout the notes to the landscape and capital works within Yarra Park. This funding was then contributed to the Club under the terms of the Instrument financial statements. of Delegation. The grant has been recorded as revenue and the contribution as an expense in the Statement of Comprehensive Income. rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

12 13 NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS (CONTINUED) (CONTINUED)

31 MARCH 2012 31 MARCH 2012

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d)

(f) Property, plant and equipment (h) Trade and other payables Trade payables and other payables are carried at amortised cost and represent liabilities for goods and services provided to the (i) Crown land - MCG Trust prior to the end of the financial year that are unpaid and arise when the Trust becomes obliged to make future payments in The Act provides that the assets and liabilities of the Trustees became the assets and liabilities of the Trust. Under the respect of the purchase of these goods and services. provisions of this Act, the Trust was deemed to become the grantee of the MCG’s land reserved under an Order in Council dated 20 February 1934. No cost was incurred by the Trust in respect of this land. Payables to related parties are carried at the principal amount.

Crown land for the MCG is measured on a fair value basis. At each balance date, the value of the asset in this class is reviewed (i) Taxes to ensure that its carrying value does not materially differ from the asset’s fair value at that date. Where necessary, the asset is Income Tax revalued to reflect its fair value. The Trust is exempt from income tax under Section 50-45 of the Income Tax Assessment Act (ITAA) 1997. This land was independently revalued by the Victorian Valuer-General at $62.000 million at March 2012 and has been recorded at Goods and Services Tax (GST) that value in the accounts at 31 March 2012. Revenues, expenses and assets are recognised net of the amount of GST except:

(ii) Crown land - Yarra Park i) where the GST incurred on a purchase of goods and services is not recoverable from the taxation authority, in which case the The Yarra Park Amendment Act transfers the regulation of Crown land at Yarra Park to the control of the Trust. GST is recognised as part of the cost of acquisition of the asset or as part of the expense item as applicable.

This land was contributed for nil consideration from the Council to the Trust effective 15 March 2010. It is measured on a fair Trade receivables and trade payables are stated with the amount of GST included. value basis. At each balance date, the value of the asset in this class is reviewed to ensure that its carrying value does not The net amount of GST receivable from, or payable to the taxation authority is included as part of receivables or payables in materially differ from the asset’s fair value at that date. Where necessary, the asset is revalued to reflect its fair value. the Statement of Financial Position. Cash Flows are included in the Statement of Cash Flows on a gross basis and the GST This land was independently valued at $68.620 million at June 2009 by the Council and upon contribution to the Trust was components of cash flows arising from investing and financing activities, which are recoverable from or payable to the taxation initially recognised at that value in the accounts at 31 March 2010. An independent valuation conducted by the Victorian Valuer- authority, are classified as operating cash flows. General at 31 March 2012 has determined the fair value of this land was $103.000 million. It has been recorded at that value in the accounts at 31 March 2012. (j) Allocation between current and non-current In the determination of whether an asset, other than cash or a cash equivalent, is current or non-current, consideration is given (iii) Impairment as to whether the Trust expects to realise or consume the asset within twelve months after the reporting date. All cash and cash All assets are assessed annually for indications of impairment. If there is an indication of impairment, the assets concerned equivalents are deemed as current. are tested as to whether their carrying value exceeds their recoverable amount. Where an asset’s carrying amount exceeds its Current liabilities are recognised when the liability is due to be settled within twelve months after reporting date or the Trust recoverable amount, the difference is written off by a charge to the Statement of Comprehensive Income, except to the extent does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. that this write down can be debited to an asset revaluation reserve account applicable to that class of asset. (k) Indemnification and insurance ofT rustees (g) Other assets – AGOS-OM Collection (part of the National Sports Museum (“NSM”)) The State Government has advised that costs of indemnification of Trustees are a chargeable expense against the Trust and that The AGOS-OM Collection comprises assets that the Trust intends to preserve because of their unique historical and cultural the State indemnifies the Trust against losses of the Trust. attributes. The Collection is recognised at fair value with regard to its highest and best use. The Collection is not depreciated. Valuation of the Collection from an independent assessor will be completed every five years with any future acquisitions being (l) Revenue recognition valued at cost for purchases and fair value for donated items until the next valuation. Revenue is recognised to the extent that it is probable that economic benefits will flow to the entity and the revenue can be reliably At each balance date, the value of the AGOS-OM Collection is reviewed to ensure the carrying amount does not materially differ measured. The following specific recognition criteria must also be met before revenue is recognised: from the Collection’s fair value at that date. Where necessary, the asset is revalued to reflect its fair value. Lease Rental and Interest The AGOS-OM Collection was independently revalued at $11.760 million at 31 March 2012 and has been recorded at that value in Control of a right to receive consideration for the provision of, or investment in, assets has been attained. the accounts at 31 March 2012.

The Collection is managed, maintained and displayed by National Sports Museum Limited (“NSML”), in accordance with the Melbourne Cricket Ground Trust Exhibition Agreement. rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

14 15 NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS (CONTINUED) (CONTINUED) 31 MARCH 2012 31 MARCH 2012 Notes 2012 2011 $’000 $’000

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d) 3. REVENUES (m) Expense payments Payments to third parties are recognised as an expense in the reporting period in which they are paid or payable. They include Lease rental from the Club 16 4,036 3,899 transactions such as the contribution to the Club for repayment of Great Southern Stand and Northern Stand Re-development debt. Total revenues from operating activities 4,036 3,899 (n) Employee leave benefits

The Trust employed nil employees during the year (2011: nil employees). No employee leave benefits are owed at balance date Other revenues (2011: nil benefits owed). Interest revenue 65 62 (o) Rounding State Government of Victoria contribution – Yarra Park landscape 2,000 - The amounts contained in this report and in the financial report have been rounded off to the nearest $1,000 where rounding upgrade is applicable (or in certain cases to the nearest dollar), under the option available to the Trust under Standing Direction 4.2(d). Total other revenues 2,065 62 The Trust is an entity to which the Standing Direction applies.

Total revenues 6,101 3,961

4. EXPENSES

Operating expenses 129 111

5. TRADE AND OTHER RECEIVABLES

GST receivable 97 92

Other receivables - 1

97 93 rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

16 17 NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS (CONTINUED) (CONTINUED)

31 MARCH 2012 Notes 2012 2011 31 MARCH 2012 Notes 2012 2011 $’000 $’000 $’000 $’000

6. PROPERTY, PLANT AND EQUIPMENT 7. OTHER NON-CURRENT ASSETS

Crown land - MCG AGOS-OM Collection (part of the NSM) At fair value 6 (a) 62,000 49,583 At fair value 11,760 12,150

Crown land - Yarra Park Total Other Non-current Assets 11,760 12,150 At fair value 6 (b) 103,000 68,620 Reconciliation Reconciliation of the carrying amounts of the Total Property, Plant and Equipment 165,000 118,203 AGOS-OM Collection at the beginning and end of the current and previous financial year. Reconciliation Reconciliation of the carrying amounts of property, plant and equipment Carrying amount at beginning of year 12,150 12,150 at the beginning and end of the current and previous financial year. Net amount of revaluation increments less decrements (390) -

Carrying amount at end of year 11,760 12,150 (a) Crown land - MCG

Carrying amount at beginning of year 49,583 49,583 An independent valuation of the AGOS-OM Collection was performed by Simon Storey Valuers at 31 March 2012 to Net amount of revaluation increments less decrements 12,417 - determine the fair value of the Collection. The valuation, which conforms to Australian Valuation Standards, was determined by reference to the amounts for which assets could be exchanged between knowledgeable willing parties in an arm’s length Carrying amount at end of year 62,000 49,583 transaction. The valuation was based on independent assessments. The valuer determined the fair value of the Collection to be $11.760 million at 31 March 2012 and the carrying amount of the Collection was reduced accordingly at that date. The carrying amount of Crown land at the MCG is supported by an independent valuation performed by the Victorian The Collection is required to be revalued every five years. Valuer-General at 31 March 2012 of $62.000 million. The valuation, which conforms to Australian Valuation Standards, was determined by reference to the value in use of the land, based upon a discounted cash flow methodology applied to the lease between the Trust and the Club. The valuation was based on independent assessments. 8. trade AND OTHER PAYABLES Accrued Charges 18 29 (b) Crown land - Yarra Park 18 29 Carrying amount at beginning of year 68,620 68,620 (a) Aggregate amounts payable to related parties: Net amount of revaluation increments less decrements 34,380 - Other related parties 16 18 27 Carrying amount at end of year 103,000 68,620 18 27 Upon contribution from the Council, Yarra Park Crown land was initially recognised by the Trust at 15 March 2010. At 31 Terms and conditions March 2012 the land was revalued by the Victorian Valuer-General at $103.000 million. The valuation, which conforms to Terms and conditions relating to the above financial instruments: Australian Valuation Standards, was determined by reference to the value in use of the land, with a discount factor applied. The valuation was based on independent assessments. (i) Other payables and accrued charges relate to ground activities performed prior to balance date for which payment has not been made by the Trust at balance date. (ii) In addition, other payables and accrued charges also include expenditures incurred by the Club, Melbourne Cricket Club Foundation Limited (“the Foundation”) and NSML on behalf of the Trust for which the Trust is obligated to pay at year end. Refer to note 16 (b) (iv) for further details. rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

18 19 NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS (CONTINUED) (CONTINUED)

31 MARCH 2012 Notes 2012 2011 31 MARCH 2012 Notes 2012 2011 $’000 $’000 $’000 $’000

9. RESERVES AND ACCUMULATED FUNDS 10. CASH FLOW INFORMATION Asset revaluation 9 (a) 107,919 61,512 (a) reconciliation of net result to the net cash flows from operations Special purpose – NSM 9 (b) 48 48 Net result 87 100 107,967 61,560 Changes in assets and liabilities (Increase)/decrease in trade & other receivables (4) 20 Accumulated funds 9 (c) 69,957 69,870 Increase/(decrease) in trade & other payables (11) 17

(a) Asset revaluation Net cash flow from/(used in) operating activities 72 137 (i) Nature and purpose of reserve The asset revaluation reserve is used to record increments and decrements in the value of non-current assets. (b) Reconciliation of cash (ii) Movements in reserve Cash and cash equivalents comprises: Balance at beginning of year 61,512 61,512 - cash at bank 155 114 Revaluation increments / (decrements) on revaluation of: - short term deposits 930 899 - Crown land - MCG 12,417 - Cash and cash equivalents at end of year 1,085 1,013 - Crown land – Yarra Park 34,380 - Cash at bank earns interest at floating rates based on daily bank deposit rates. - AGOS-OM Collection (390) - Balance at end of year 107,919 61,512 Short-term deposits are at call and earn interest at the respective short-term deposit rates. (b) Special purpose – NSM (i) Nature and purpose of reserve The NSM reserve records donations provided to the Trust for the purchase of sporting memorabilia. (ii) Movements in reserve Balance at beginning of year 48 48 Transfers from / (to) other equity accounts: - Accumulated funds - - Balance at end of year 48 48

(c) Accumulated funds Balance at beginning of year 69,870 69,770 Net result for the year 8 7 100 Transfers from / (to) other equity accounts: - Asset revaluation reserve - - - Special purpose – NSM - - Balance at end of year 69,957 69,870 rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

20 21 NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS (CONTINUED) (CONTINUED) 31 MARCH 2012 31 MARCH 2012 Notes 2012 2011 $’000 $’000

11. AUDITORS’ REMUNERATION 16. RELATED PARTY DISCLOSURES Amounts received or due and receivable by Victorian Auditor (a) The Office bearers of the Trust during the financial year were: General for: – an audit of the financial report of the Trust 13 12 Mr John M. R. Wylie AM (Chairman) Mr Chris J. Lovell (to 17 November 2011) 13 12 The Honourable John Cain The Honourable Patrick J. McNamara Ms Anne-Marie Corboy Ms Kathryn M. Palmer Mr Robert N. Herbert AM Mr Graeme W. Sinclair (Executive Officer) 12. CONTINGENT LIABILITIES Mr Ross Inglis At the date of this report, the Trust is not aware of any contingent liabilities.

13. SUBSEQUENT EVENTS (b) The following transactions occurred with other related parties during the financial year: There are no subsequent events to the Trust’s knowledge which significantly affect the operating results and state of (i) during the year the Trust received from the Club $4.036 million (2011: $3.899 million) in respect of the affairs for the year ended 31 March 2012. Club’s lease rental of the MCG. (ii) The Trust contributed $3.885 million from its cash reserves to the Club for the repayment of Re-development Debt 14. EXPENDITURE COMMITMENTS (2011: $3.750 million). At the date of this report, the Trust is not aware of any capital or contracted expenditure commitments, other than (iii) during the year, under the terms of an Instrument of Delegation, the Trust contributed Yarra Park landscape and those commitments under the Yarra Park Amendment Act and under the funding agreement for landscape and capital capital improvement funding of $2.000 million (2011: nil) to the Club. improvement works within Yarra Park, which have been delegated by the Trust to the Club under the provisions of the Instrument of Delegation and Second Deed of Amendment to the MCG Management and Indemnity Deed. (iv) From time to time, the Club, the Foundation and NSML undertake transactions on behalf of the Trust. As at balance date, amounts payable by the Trust to the Club totalled $17,788 (2011: $10,437) and amounts payable by the Trust to the Foundation totalled nil (2011: $17,008). 15. REDEVELOPMENT OF THE MCG Under the provisions of the original Indemnity Deed dated 11 April 1990, the Club agreed to redevelop the Great Southern Stand at a cost of approximately $150 million. The original Indemnity Deed was re-negotiated and a new Management 17. GROUND MANAGER and Indemnity (“M&I”) Deed was signed (15 August 2002) by the Trust, the Club and the State Government of Victoria. On 15 August 2002, the Club entered into a Deed of Variation of Lease with the MCG Trust pursuant to which the Club’s The original financing arranged by the Club in relation to the Great Southern Stand continues to be repaid over a 25 year existing tenancy of the MCG was extended until 31 March 2042 with an option to extend its lease over the Members’ period, with guarantees in respect of the financing being provided by the Trust and the Treasurer of Victoria in accordance Reserve for a further 25 years. Under a separate management agreement with the Trust and the Government of Victoria, with the specific provisions of the Indemnity Deed. the Club’s role as manager of the MCG has also been extended until 31 March 2042. As part of the M&I Deed, the Club agreed to redevelop the Northern side of the MCG. The financing arranged by the Club Building Improvements and Capital Work in Progress have been funded by the Club and are recognised in the Club’s will be repaid over approximately a 30 year period, with guarantees in respect of the financing being provided by the Trust accounts at a written down value of $495.911 million (2011: $492.361 million). The residual interest in buildings and and the Treasurer of Victoria in accordance with the specific provisions of the M&I Deed. improvements at the ground will revert to the Trust at the end of the lease period. The outstanding long-term debt in relation to the re-developments of the MCG is recognised in the Club’s accounts. Total Re-development Debt at 31 March 2012 for these projects is $280.383 million (2011: $293.015 million). rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

22 23 NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS (CONTINUED) (CONTINUED) 31 MARCH 2012 31 MARCH 2012

18. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES 19. FINANCIAL INSTRUMENTS

The Trust’s activities expose it primarily to the financial risks of changes in interest rates. The Trust does not enter into or (a) Interest rate risk trade financial instruments, including derivative financial instruments, for speculative purposes. The following table sets out the carrying amount, by maturity, of the financial instruments exposed to interest rate risk: The Trust’s principal financial instruments comprise cash and short-term deposits.

The main purpose of these financial instruments is to meet obligations for the Trust’s operations. The Trust has various Fixed interest rate maturing in: Weighted other financial assets and liabilities such as trade payables, which arise directly from its operations. It is, and has been Floating 1 year or less 1 to 5 years More than 5 average effective throughout the period under review, the Trust’s policy that no trading in financial instruments shall be undertaken. The main interest rate Financial years interest rate risks arising from the Trust’s financial instruments are cash flow interest rate risk and credit risk. Policies for managing Instruments the main risks are summarised below: 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 Interest rate risk exposures $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 % % (i) Financial assets The Trust’s exposure to the risk of changes in market interest rates relates primarily to the Trust’s cash, which is subject to floating interest rates. Cash 155 114 ------3.20 3.60

Credit risk exposure Short term deposits at call 930 899 ------4.20 4.50

The Trust trades only with recognised, creditworthy third parties. 1,085 1,013 ------It is the Trust’s policy that all customers who wish to trade on credit terms are subject to credit verification procedures.

In addition, receivable balances are monitored on an ongoing basis with the result that the Trust’s exposure to bad debts is All other financial assets and financial liabilities, both recognised and unrecognised, are non-interest bearing. not significant.

There are no significant concentrations of credit risk within the Trust.

With respect to credit risk arising from the other financial assets of the Trust, which comprise cash and cash equivalents, the Trust’s exposure to credit risk arises from default of the counter party, with a maximum exposure equal to the carrying amount of these instruments.

Since the Trust trades only with recognised third parties, there is no requirement for collateral. rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

24 25 NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS (CONTINUED) (CONTINUED) 31 MARCH 2012 31 MARCH 2012

19. FINANCIAL INSTRUMENTS (Cont’d) 20. RESPONSIBLE PERSONS

(b) Fair values In accordance with the Ministerial Directions issued by the Minister for Finance under the Financial Management Act 1994, All financial assets and liabilities are summarised in the above table. Where financial assets and liabilities have not been the following disclosures are made regarding responsible persons for the year. recorded at fair value the carrying amount approximates fair value at balance date. The following methods and assumptions are used to determine the fair values of financial assets and liabilities. Period

Recognised financial instruments Responsible Ministers: Cash and cash equivalents: The carrying amount approximates fair value because of their short-term to maturity. Hon. Edward Baillieu Premier 1/4/2011 – 31/3/2012 Trade and other receivables and trade and other payables: The carrying amount approximates fair value. and (c) Liquidity risk management Ultimate responsibility for liquidity risk rests with the Trustees, who have built an appropriate liquidity risk management Hon. Hugh Delahunty framework for the management of the Trust’s short, medium and long-term funding and liquidity management. The Trust Minister for Sport and Recreation 1/4/2011 – 31/3/2012 manages the liquidity risk by maintaining adequate cash reserves, and by continuously monitoring forecast and actual cash flows while matching the maturity profiles of financial assets and liabilities. Given the current surplus cash assets, liquidity risk is minimal. Trustees: Mr John M. R. Wylie AM (Chairman) 1/4/2011 – 31/3/2012 (d) Sensitivity analysis Hon. John Cain 1/4/2011 – 31/3/2012 At 31 March 2012, if interest rates had changed by -/+ 50 basis points from the year-end rates with all other variables held constant, the net result for the year would have been $0.007 million lower/higher (2011: change of 50 basis points, $0.007 Ms Anne-Marie Corboy 1/4/2011 – 31/3/2012 million lower/higher), mainly as a result of lower/higher interest income from cash and cash equivalents. Mr Robert N. Herbert AM 1/4/2011 – 31/3/2012 Mr Ross Inglis 1/4/2011 – 31/3/2012 Mr Chris J. Lovell 1/4/2011 – 17/11/2011 Hon. Patrick J. McNamara 1/4/2011 – 31/3/2012 Ms Kathryn M. Palmer 1/4/2011 – 31/3/2012 Mr Anthony Stewart Appointed 24/4/2012

Accountable Officer: Mr Graeme W. Sinclair (Executive Officer) 1/4/2011 – 31/3/2012

The Trustees and Accountable Officer as listed above have received no remuneration (2011: Nil). The Accountable Officer acts as an independent contractor. rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

26 27 DECLARATION BY TRUSTEES

We certify the attached financial statements for the Melbourne Cricket Ground Trust have been prepared in accordance with Standing Direction 4.2 of the Financial Management Act 1994, applicable Australian Accounting Standards and other professional reporting requirements.

We further state that, in our opinion, the information set out in the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and notes to and forming part of the financial statements, presents fairly the financial transactions during the year ended 31 March 2012 and the financial position of the Trust as at 31 March 2012.

We are not aware of any circumstance which would render any of the particulars included in the financial statements to be misleading or inaccurate.

On behalf of the Melbourne Cricket Ground Trust.

John M. R. Wylie AM Chairman Melbourne, 25 May 2012 rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

28 29 NOTES TO FINANCIAL STATEMENTS

Whistleblowers Protection Act

The Trust has adopted procedures in conformance with the requirements of the Whistleblowers Protection Act. These procedures apply to disclosures by any party of improper conduct or detrimental action by Trustees or the Executive Officer. Reports of such behaviour are to be made to the Executive Officer as the appointed disclosure officer, or, if appropriate, the Chairman of the Trust. Reports of behaviour that are found to relate to the official activities of the Trust, are in the form of reprisals, are accurate and have public interest implications will be reported to the Ombudsman. No incidents of reportable behaviour have been received rust M elbourne Cri c ket Ground T rust M elbourne Cri c ket Ground T rust

30 31 MAJOR EVENTS of past 150 years at the mcg

On the Field

1859 First Australian football match on the current site of the MCG, between Melbourne and South Yarra

1862 First international cricket match in Australia

1877 First cricket Test between Australia and England

1902 First VFL Grand Final at the MCG

1942-45 MCG a wartime base for US Marines, US Air Force and RAAF

1954 First visit to MCG by a reigning sovereign, Queen Elizabeth II

1956 Games of the XVI Olympiad based at the MCG – “the Friendly Games”

1959 Billy Graham sets all-time MCG attendance record of 130,000

1961 World record test match crowd of 90,800 for Day 2, Fifth Test, Australia v West Indies

1970 Record VFL/AFL Grand Final attendance of 121,696, Carlton-Collingwood This page has intentionally 1971 First cricket match at MCG been left blank 1977 Centenary Test at the MCG – won by Australia by 45 runs, the same margin as 100 years earlier 1986 Pope John Paul II’s visit and service at MCG

1992 Cricket World Cup Final at MCG, won by

2005 100th AFL/VFL Grand Final at MCG

2006 XVIII Commonwealth Games based at the MCG

OFF the Field

1838 Formation of the Melbourne Cricket Club (MCC)

1853 The Melbourne Cricket Ground founded on the site now known as Yarra Park

1861 Inaugural MCG Trust constituted

1905 MCG becomes subject to overall direction and control of MCG Trust

1928 New Members Pavilion opened – the third MCC Members Pavilion

1933 MCG Act gives statutory recognition to MCG Trust

1956 Olympic Stand completed for the opening of the Melbourne Olympic Games

1985 Permanent light towers first used at a major sporting event

1992 40 year agreement commences between the MCG and Government guaranteeing four Finals including the Grand Final - Great Southern Stand completed

1998 MCG Trust restructured under MCG (Amendment) Act 1998

2006 New Northern Stand completed for the opening of the Melbourne Commonwealth Games

rust M elbourne Cri c ket Ground T rust 2008 National Sports Museum opened at the MCG

32 This report has been printed on 100% post consumer recycled stock