Prime Minister Jacinda Ardern and Christchurch Mayor Lianne Dalziel have held a joint press conference acknowledging the agreement between the Crown and Council as joint funders of the stadium.

But the news is dated, as a similar announcement was made on 2nd March this year.

The overall cost of the project will be NZ$473m, with the council to contribute the remaining NZ$253m.

The new 25,000-seat, covered arena is going to be built on land between Madras, Barbadoes, Hereford and Tuam Streets in central Christchurch.

In a statement Prime Minister Jacinda Ardern said “we’re committed to investing in projects to help regenerate the city, provide jobs and contribute to our communities through the COVID-19 recovery.”

“The multi-use arena will do this and once built will become a place where all Cantabrians can enjoy sport, music and cultural events. There should be something for everyone to enjoy and I expect the arena will become a great hub of activity for the community.”

“The signing of the Funding Agreement is the written commitment of the Crown and Christchurch City Council to the project as sponsors.”

The Christchurch City Council is responsible for delivering the project.

The Council is working towards project completion in 2024.