00:00:02
Speaker 1: Now, for breaking at eight this morning, well, I know you say you've always got breaking at eight prepared, but the breaking news came through about Live Golf and BC Partners withdrawing their funding offer, some $ 300 million to sustain Live Golf on the condition that enough of the big-name golfers continued. Well, in BC Partners' estimation, they didn't get enough of that commitment, so they've pulled the $ 300 million. And the Financial Times, who broke the story, are now saying that Live are going to enter a period of liquidation. They're going to start selling off. their assets. We reached out to the Premier for a statement on this, and he said, you know what?
00:00:35
Speaker 2: Oh, come on.
00:00:36
Speaker 1: The Premier, Peter Malinowskis, joins us now. Premier, good morning.
00:00:39
Speaker 2: Good morning, Will. Good morning, Stacey.
00:00:40
Speaker 1: It's obviously a massive blow, and clearly we're not going to get a Keonga Live Golf Tournament now, you'd think.
00:00:48
Speaker 3: Yeah, I think that's right. I haven't heard anything official from Live in the last 24 hours. Needless to say, I think we spoke about this on your program a few weeks ago, I've been making pretty clear promises to Live Golf themselves, the same message that BC Capital Partners have had, and that is, you know, whether or not South Australia is even willing to host an event is going to be contingent upon them having the playing stock that reflects what we've had in the past. Now, that clearly hasn't come to fruition, and BC Capital Partners have made their announcement this morning via the Financial Times, so I think that's stumps as far as I can tell. From my perspective, though, you know... There's two reflections. One, you know, we had four years of this, and when you add it up, it's $ 314. 6 million economic benefit to the state of South Australia over those four years, which, you know, completely dwarfs the state government contribution. We've had 390,000 people come through the gate. So it's been good, and now we just have to pivot to the Australian Open, which we've obviously got a six-year deal with Golf Australia that we arranged last post seeing the news that Leith was in a bit of trouble in any event.
00:02:00
Speaker 1: It weakens the case for the North Adelaide golf course upgrade though, doesn't it?
00:02:05
Speaker 2: No, I don't think so.
00:02:06
Speaker 3: Mainly because of the Australian Open and we've got a six-year deal. I mean, the Australian Open now is well and truly the biggest golf event in the country by a margin. And we've got it at North Adelaide kicking off with the Women's Australian Open in 2028 and then the men's tournament later that year, which is the timeline that was going to be the case live at North Adelaide at any event. So, you know, we obviously miss out on an event in 2027. That is absolutely true. But in terms of 2028 onwards, it doesn't really change anything, particularly in respect to North Adelaide.
00:02:39
Speaker 4: What if this happens with the MotoGP? What if we have it for our set contracted period and then they decide to, I don't know, go back to Phillip Island or somewhere else and we've knocked down a few hundred more trees in the parklands and we've got a racetrack that costs $ 100 million or so and.
00:02:57
Speaker 3: Well, they can't go back to Phillip Island because we've got a contract with them, Stacey.
00:03:02
Speaker 4: No, but after that contracted period, Premier, what if they decide Adelaide's not the place for this event? We'll go somewhere else.
00:03:09
Speaker 3: Well, I think that'll be a question for whoever's in charge of the state all those years down the track. We've got a pretty long deal with MotoGP. And we know, of course, that the owners of F1, Liberty Media, have now backed now own MotoGP themselves so you've got the same owner as F1 and MotoGP together and the contract takes us through to the middle of next decade so it's a it's a long-term agreement and we're committed to making it happening because it represents the exact same opportunity that Liv represented four years ago and on and on no so.
00:03:45
Speaker 4: You don't plan on being premier here in six years time when the contract ends 2032.
00:03:50
Speaker 3: That's you and I both know Stacey that's not up to me that's up to the people of our state, as it should be. But what I'm saying is that, you know, if you go back four years and you look at Liv and there was a bit of controversy at the time and people thought, oh, this is a wise move, it's been an absolute boon for the state. No ifs or buts. In fact, the other benefit beyond the state of South Australia is the taxpayer of Australia because the income tax that has been paid on the prize money from Liv Golf by the golfers I can tell you, well and truly exceeds what the cost has been to the state in hosting it. So the federal taxpayer has been a winner. The state taxpayer has been a winner. The city has come alive as a result of it. And I don't think MotoGP will be much different.
00:04:41
Speaker 4: Sue makes an interesting point. Now that Live Golf doesn't exist anymore, why can't we find out how much we can pay for it? There's no commercial in confidence. No other states are bidding for it. You always tout the hundreds of millions of dollars figure, how much money it's brought to our economy. Why can't we know how much we spent on it?
00:05:04
Speaker 1: Premier? I think the Premier's dropped out. I think we've just lost him. I mean, hell of a question, Stace. Very good point. No, he's entirely dropped out. We might try to get him back. Maybe we'll take a quick break and we'll try and return to that because there was that and a couple of other issues we wanted to get to with the Premier for breaking date as we assess the fallout of Live Golf. Let's check traffic. The Toyota Land Cruiser 300 Performance Hybrid has arrived at Jarvis Toyota, combining iconic strength with advanced hybrid power. Going on the old-fashioned phone to get the Premier back on. Premier, I'm not sure if you heard the entirety of Stacey's question a moment ago, but it went to Sorry, I didn't. It went to Commercial and Confidence. We had a text in from Sue who said, can we not now know the cost of Live Golf given that it's an expired entity, no one else is bidding against it, and we can know the numbers once and for all?
00:05:59
Speaker 2: Well, the Commercial and Confidence, our legal obligations remain the same. But what I'm happy to say to Sue is that the amount that Live Golfers, the players themselves, received in prize money and the income tax they paid on that, So the income tax they paid on the prize money well and truly exceeds the contribution from the South Australian government. Now, let alone the $ 314. 6 million economic benefit to the state. It is an absolute... It's been an absolute Laudan Mazaire winner. And the reason why that actually brings true is because we got in early. It's the fact that we got in at the ground floor earlier were able to get a really good deal and it paid off. And I'm grateful for that. And a lot of people put a lot of effort into it, including literally hundreds of local suppliers. A lot of local suppliers helped make that happen.
00:06:55
Speaker 1: In the event that they do enter liquidation, as the Financial Times reports, is the South Australian taxpayer accredited? Do we have outstanding money that we will be pursuing?
00:07:04
Speaker 2: No, because they don't owe us anything and we don't owe them anything. So we pay for the event in the event that it happens. It's basically my understanding, and we've been deliberately withholding some payments in light of the question marks that have existed around what happens into the future. Now, I'm happy to take advice on that, but I certainly know we've been holding back payments, trying to find out confirmation about what happens into the future. But I'm not aware. Again, I'm happy to double-check, but I'm not aware that we're owed anything.
00:07:36
Speaker 3: Okay.
00:07:36
Speaker 1: Just before we let you go, can we ask you about one of the relevant fallout elements from the midterms in the US yesterday for South Australia, especially in the context of this stoush at Tongkilo with regard to the data centre that's being potentially built up there. Your data centre strategy I was reading this morning, released on the 23rd of June this year, you wrote The Ford, and it was very enthusiastic about data centres. You said, The investment is expected to reach $ 3 trillion over the next five years. Capturing this opportunity requires more than just observation, it requires action. You make the point data centres represent a significant economic opportunity which can bring high-quality jobs, stronger renewable energy infrastructure and new opportunities for regional communities. It's a very enthusiastic tone you strike in this document. Is your enthusiasm being dimmed at all by the blowback people who have embraced data centres politically in the US got in the midterms yesterday?
00:08:30
Speaker 2: Yeah, it's a good question. The short answer is no, because you read the forward, but if you actually read the entire document in terms of the strategy, you will see the conditions under which the state is willing to actually contemplate data centres being built here. And if those conditions aren't met, then they don't get built. Now, what are those conditions? Well, those conditions are about making sure that energy use, water use, being put in the right locations... is actually top of mind. And as you're aware, we've got a piece of legislation that we're crafting that we hope we can put out publicly in the not-too-distant future. And that legislation, like I said, puts into law all of those strict conditions, and we need to get that legislation through the Parliament. And this is going to be really important for the Liberal Party, for One Nation and the Greens, because if we don't get this legislation right, then we run the risk that data centres get built without... actually being done on the terms that are in the interest of people, whether it be, you know, in any location across the state. In respect to the Tongue Killer protest, let me just say a couple of points. We haven't even received any applications in government for that data centre. So I don't know who's doing what up there or proposing what, but there are a range of community consultation centres, sessions, and then, you know, not appearing in them. It strikes me all as being a bit odd. The state government is actively engaged with a number of proponents of data centres, serious players, and they are going through to what regulatory processes we have at the moment. What we know definitively is that those regulatory processes, in my view, are not sufficient. which is why they need to be beefed up, which is why we need to get the legislation through the parliament. What's the benefit.
00:10:23
Speaker 4: For taxpayers, Premier, in having data centres built here? What do we get out of it?
00:10:28
Speaker 2: Okay, so there are a couple of things that are more important than, of course, if we get investment in regional South Australia that are to the tunes of hundreds of millions of dollars, it creates jobs. And it should be done in places where it makes sense to do it, not in places that are excuse me, environmentally significant or in places where the community doesn't see it as an opportunity. Another thing it does, it creates a huge amount of demand for energy infrastructure that could actually have a positive impact on electricity supply in South Australia if it's done on our terms. And this is why we need to legislate and regulate.
00:11:07
Speaker 1: Premier, really appreciate your time this morning. Thanks for joining us.
00:11:10
Speaker 2: My absolute pleasure.
00:11:10
Speaker 4: Cheers.
Speaker 1: Now, for breaking at eight this morning, well, I know you say you've always got breaking at eight prepared, but the breaking news came through about Live Golf and BC Partners withdrawing their funding offer, some $ 300 million to sustain Live Golf on the condition that enough of the big-name golfers continued. Well, in BC Partners' estimation, they didn't get enough of that commitment, so they've pulled the $ 300 million. And the Financial Times, who broke the story, are now saying that Live are going to enter a period of liquidation. They're going to start selling off. their assets. We reached out to the Premier for a statement on this, and he said, you know what?
00:00:35
Speaker 2: Oh, come on.
00:00:36
Speaker 1: The Premier, Peter Malinowskis, joins us now. Premier, good morning.
00:00:39
Speaker 2: Good morning, Will. Good morning, Stacey.
00:00:40
Speaker 1: It's obviously a massive blow, and clearly we're not going to get a Keonga Live Golf Tournament now, you'd think.
00:00:48
Speaker 3: Yeah, I think that's right. I haven't heard anything official from Live in the last 24 hours. Needless to say, I think we spoke about this on your program a few weeks ago, I've been making pretty clear promises to Live Golf themselves, the same message that BC Capital Partners have had, and that is, you know, whether or not South Australia is even willing to host an event is going to be contingent upon them having the playing stock that reflects what we've had in the past. Now, that clearly hasn't come to fruition, and BC Capital Partners have made their announcement this morning via the Financial Times, so I think that's stumps as far as I can tell. From my perspective, though, you know... There's two reflections. One, you know, we had four years of this, and when you add it up, it's $ 314. 6 million economic benefit to the state of South Australia over those four years, which, you know, completely dwarfs the state government contribution. We've had 390,000 people come through the gate. So it's been good, and now we just have to pivot to the Australian Open, which we've obviously got a six-year deal with Golf Australia that we arranged last post seeing the news that Leith was in a bit of trouble in any event.
00:02:00
Speaker 1: It weakens the case for the North Adelaide golf course upgrade though, doesn't it?
00:02:05
Speaker 2: No, I don't think so.
00:02:06
Speaker 3: Mainly because of the Australian Open and we've got a six-year deal. I mean, the Australian Open now is well and truly the biggest golf event in the country by a margin. And we've got it at North Adelaide kicking off with the Women's Australian Open in 2028 and then the men's tournament later that year, which is the timeline that was going to be the case live at North Adelaide at any event. So, you know, we obviously miss out on an event in 2027. That is absolutely true. But in terms of 2028 onwards, it doesn't really change anything, particularly in respect to North Adelaide.
00:02:39
Speaker 4: What if this happens with the MotoGP? What if we have it for our set contracted period and then they decide to, I don't know, go back to Phillip Island or somewhere else and we've knocked down a few hundred more trees in the parklands and we've got a racetrack that costs $ 100 million or so and.
00:02:57
Speaker 3: Well, they can't go back to Phillip Island because we've got a contract with them, Stacey.
00:03:02
Speaker 4: No, but after that contracted period, Premier, what if they decide Adelaide's not the place for this event? We'll go somewhere else.
00:03:09
Speaker 3: Well, I think that'll be a question for whoever's in charge of the state all those years down the track. We've got a pretty long deal with MotoGP. And we know, of course, that the owners of F1, Liberty Media, have now backed now own MotoGP themselves so you've got the same owner as F1 and MotoGP together and the contract takes us through to the middle of next decade so it's a it's a long-term agreement and we're committed to making it happening because it represents the exact same opportunity that Liv represented four years ago and on and on no so.
00:03:45
Speaker 4: You don't plan on being premier here in six years time when the contract ends 2032.
00:03:50
Speaker 3: That's you and I both know Stacey that's not up to me that's up to the people of our state, as it should be. But what I'm saying is that, you know, if you go back four years and you look at Liv and there was a bit of controversy at the time and people thought, oh, this is a wise move, it's been an absolute boon for the state. No ifs or buts. In fact, the other benefit beyond the state of South Australia is the taxpayer of Australia because the income tax that has been paid on the prize money from Liv Golf by the golfers I can tell you, well and truly exceeds what the cost has been to the state in hosting it. So the federal taxpayer has been a winner. The state taxpayer has been a winner. The city has come alive as a result of it. And I don't think MotoGP will be much different.
00:04:41
Speaker 4: Sue makes an interesting point. Now that Live Golf doesn't exist anymore, why can't we find out how much we can pay for it? There's no commercial in confidence. No other states are bidding for it. You always tout the hundreds of millions of dollars figure, how much money it's brought to our economy. Why can't we know how much we spent on it?
00:05:04
Speaker 1: Premier? I think the Premier's dropped out. I think we've just lost him. I mean, hell of a question, Stace. Very good point. No, he's entirely dropped out. We might try to get him back. Maybe we'll take a quick break and we'll try and return to that because there was that and a couple of other issues we wanted to get to with the Premier for breaking date as we assess the fallout of Live Golf. Let's check traffic. The Toyota Land Cruiser 300 Performance Hybrid has arrived at Jarvis Toyota, combining iconic strength with advanced hybrid power. Going on the old-fashioned phone to get the Premier back on. Premier, I'm not sure if you heard the entirety of Stacey's question a moment ago, but it went to Sorry, I didn't. It went to Commercial and Confidence. We had a text in from Sue who said, can we not now know the cost of Live Golf given that it's an expired entity, no one else is bidding against it, and we can know the numbers once and for all?
00:05:59
Speaker 2: Well, the Commercial and Confidence, our legal obligations remain the same. But what I'm happy to say to Sue is that the amount that Live Golfers, the players themselves, received in prize money and the income tax they paid on that, So the income tax they paid on the prize money well and truly exceeds the contribution from the South Australian government. Now, let alone the $ 314. 6 million economic benefit to the state. It is an absolute... It's been an absolute Laudan Mazaire winner. And the reason why that actually brings true is because we got in early. It's the fact that we got in at the ground floor earlier were able to get a really good deal and it paid off. And I'm grateful for that. And a lot of people put a lot of effort into it, including literally hundreds of local suppliers. A lot of local suppliers helped make that happen.
00:06:55
Speaker 1: In the event that they do enter liquidation, as the Financial Times reports, is the South Australian taxpayer accredited? Do we have outstanding money that we will be pursuing?
00:07:04
Speaker 2: No, because they don't owe us anything and we don't owe them anything. So we pay for the event in the event that it happens. It's basically my understanding, and we've been deliberately withholding some payments in light of the question marks that have existed around what happens into the future. Now, I'm happy to take advice on that, but I certainly know we've been holding back payments, trying to find out confirmation about what happens into the future. But I'm not aware. Again, I'm happy to double-check, but I'm not aware that we're owed anything.
00:07:36
Speaker 3: Okay.
00:07:36
Speaker 1: Just before we let you go, can we ask you about one of the relevant fallout elements from the midterms in the US yesterday for South Australia, especially in the context of this stoush at Tongkilo with regard to the data centre that's being potentially built up there. Your data centre strategy I was reading this morning, released on the 23rd of June this year, you wrote The Ford, and it was very enthusiastic about data centres. You said, The investment is expected to reach $ 3 trillion over the next five years. Capturing this opportunity requires more than just observation, it requires action. You make the point data centres represent a significant economic opportunity which can bring high-quality jobs, stronger renewable energy infrastructure and new opportunities for regional communities. It's a very enthusiastic tone you strike in this document. Is your enthusiasm being dimmed at all by the blowback people who have embraced data centres politically in the US got in the midterms yesterday?
00:08:30
Speaker 2: Yeah, it's a good question. The short answer is no, because you read the forward, but if you actually read the entire document in terms of the strategy, you will see the conditions under which the state is willing to actually contemplate data centres being built here. And if those conditions aren't met, then they don't get built. Now, what are those conditions? Well, those conditions are about making sure that energy use, water use, being put in the right locations... is actually top of mind. And as you're aware, we've got a piece of legislation that we're crafting that we hope we can put out publicly in the not-too-distant future. And that legislation, like I said, puts into law all of those strict conditions, and we need to get that legislation through the Parliament. And this is going to be really important for the Liberal Party, for One Nation and the Greens, because if we don't get this legislation right, then we run the risk that data centres get built without... actually being done on the terms that are in the interest of people, whether it be, you know, in any location across the state. In respect to the Tongue Killer protest, let me just say a couple of points. We haven't even received any applications in government for that data centre. So I don't know who's doing what up there or proposing what, but there are a range of community consultation centres, sessions, and then, you know, not appearing in them. It strikes me all as being a bit odd. The state government is actively engaged with a number of proponents of data centres, serious players, and they are going through to what regulatory processes we have at the moment. What we know definitively is that those regulatory processes, in my view, are not sufficient. which is why they need to be beefed up, which is why we need to get the legislation through the parliament. What's the benefit.
00:10:23
Speaker 4: For taxpayers, Premier, in having data centres built here? What do we get out of it?
00:10:28
Speaker 2: Okay, so there are a couple of things that are more important than, of course, if we get investment in regional South Australia that are to the tunes of hundreds of millions of dollars, it creates jobs. And it should be done in places where it makes sense to do it, not in places that are excuse me, environmentally significant or in places where the community doesn't see it as an opportunity. Another thing it does, it creates a huge amount of demand for energy infrastructure that could actually have a positive impact on electricity supply in South Australia if it's done on our terms. And this is why we need to legislate and regulate.
00:11:07
Speaker 1: Premier, really appreciate your time this morning. Thanks for joining us.
00:11:10
Speaker 2: My absolute pleasure.
00:11:10
Speaker 4: Cheers.
