Panaji: After a lengthy inter-departmental tussle over the Rs 30 crore parade ground and stadium complex, the Goa State Urban Development Agency (GSUDA) has moved to hand over the sports facility at Campal to a private operator. Offered on a 10-year commercial licence, the state is hoping to lease the 40,000 sqm facility and earn revenue.Govt hopes to earn from the 500 sqm premium restaurant, football ground, sports academy, vehicle parking lots, and corporate perimeter branding spaces. The lease is designed to ensure the state bears no operational or maintenance cost once the facility is handed over.GSUDA wants to appoint a qualified transaction advisor to structure and manage the competitive bidding process for leasing the football ground, the sports academy, the restaurant, dedicated vehicle parking and corporate perimeter branding zones.The football stadium, walking track and children’s play area was developed under the Smart City initiative, but the facility has been lying shut despite being completed nearly three years ago.The financial architecture of the lease is notably tilted in the state’s favour. The project was built at an estimated cost of ₹30 crore. Having spent that money building the facility, GSUDA now intends to transfer all recurring liabilities including maintenance, high-tension electricity, water and structural upkeep to the private concessionaire, with zero financial exposure for the agency.The transaction advisor will be required to build a dynamic 10-year financial model with an annual escalation of 5–7%, establish a baseline reserve price, and draft a legally binding concession agreement. Bidders will be evaluated on a 75:25 technical-to-financial split, and must score a minimum of 70 out of 100 in the technical round before their financial bid is even opened, said a GSUDA official.According to GSUDA’s conditions, the licence agreement will require the private operator to keep the facility available for 30 days annually, free of cost, for government events, and to reserve 10% of sports academy seats for underprivileged youth nominated by GSUDA.The facility has had a troubled history. The town and country planning department had initial reservations about handing over the land, ultimately conveying approval to GSUDA only on the condition that the completed project be returned to TCP unconditionally after completion.
