Where do you get the $17.7m figure from? That figure isn't in the documents submitted to the parliament select committee.
WAFC made about $10m net from 42k capacity Subi and that's what the WA government are giving them as part of the Perth Stadium deal $10.3m in year 1 and then indexed for CPI over the next 9 years.
The venue operators responsible for finding events and hiring it out and running the catering services are making their profit as well out of the new stadium.
Plus the private consortium that paid 40% of the cost upfront and get 25 years to maintain the stadium get their money back from the state government over 25 years plus a management fee. Its a more complicated model than AO.
Wasn't it reported in an article earlier this year/late last year? pretty certain I read it somewhere. Maybe that article got it wrong.