Ministerial statement: Edwin Tong on unlocking Sports Hub's full potential

The full cost of terminating the public-private partnership (PPP) for the Sports Hub is projected to be S$2.3 billion, said Culture, Community and Youth Minister Edwin Tong. This aggregate sum would be comparable to the financial obligation committed under the PPP to continue with it, without termination, he said. In a ministerial statement in Parliament on Monday (Aug 1), he explained why Sport Singapore (SportSG) decided to take over the ownership and management of the Sports Hub from SportsHub Pte Ltd (SHPL). He stressed that the move will enable SportSG to unlock the Sports Hub's full potential and better integrate with the upcoming facilities within Kallang to revitalise the area. Mr Tong said the vision is to have a single integrated ecosystem fit for world-class events and as a "community icon" for sports. It can also be a testbed and breeding ground for sports innovation and growth. SportSG will incorporate a holding company to own and operate the various pieces of assets within Kallang Alive. A subsidiary of this holding company will be set up specifically to own and manage the Sports Hub. A team of officers from SportSG has already been earmarked to move into the Sports Hub holding company and manage Sports Hub on a full-time basis. All SHPL employees have been offered an opportunity to cross over into the new corporate entity. Mr Tong said as SportSG assumes full ownership and management from December, the efforts towards Sports for Singapore remain a partnership between the Government and the private sector partners, community stakeholders and Singaporeans. He said the Sports Hub will be a place where students grow to be resilient, Singaporeans bond with family and friends, and cheer their athletes on. He urged Singaporeans to write this new chapter together to truly make the Sports Hub and National Stadium "our home ground".