CHRIS THOMSON

UPDATE: The promised $82.5 million redevelopment of Perth Oval into a world class rugby and soccer stadium will now proceed with the Town of Vincent today accepting a $6.25 million lease offer from the state government.

Sport and Recreation Minister Terry Waldron said Vincent had accepted a 50-year lease of Perth Oval at $25,000 per year.

“In addition to an annual lease fee, the state government will provide an upfront payment of $5 million to the Town of Vincent with a preference that this money is used to address the funding shortfall for the redevelopment of Beatty Park Leisure Centre,” Mr Waldron said.

The breakthrough agreement will pave the way for the oval, commercially known as nib Stadium, to be amped up to 25,000 seat, mainly to service Western Force and Perth Glory fans.

“This decision will also assist the West Australian Rugby League in their efforts to establish a WA franchise in the expanded National Rugby League competition,” Mr Waldron said.

Last week, oneperth.com.au revealed the council was to consider the government’s offer at a special meeting held last night.

This morning, Vincent mayor Nick Catania refused to reveal the outcome of the confidential meeting, saying he was subject to a confidentiality agreement with the government.

This afternoon in a media release Mr Catania confirmed the offer  - which last week had been described by council officers as “financially attractive” – was unanimously approved by the town’s elected officials last night.

Mr Waldron said detailed design and planning was underway with building scheduled to start in 2012.

In the May State Budget, the government had earmarked $82.5 million for stage one of the stadium redevelopment that includes a newer, bigger eastern grandstand, extra corporate facilities and new change rooms.

However, until today the prolix lease negotiations with the council had stymied progress.

After years of planning, the government is yet to decide on whether jaded Subiaco Oval, or some other venue, will be transformed into a modern major football and/or cricket stadium.