Maddocks has advised Sydney Trains on its acquisition of two new outdoor advertising contracts, which will initially run for a seven-year period.
Firm: Maddocks (Sydney Trains).
Deal: Sydney Trains has gained two new outdoor advertising contracts, which will run for an initial seven-year period with an option for a further three years.
Value: $500 million.
Area: Finance, corporate.
Key players: The Maddocks team was led by partner Jeff Goodall and senior associate Harriet Royle.
Deal significance: The advertising contracts are the largest public transport contracts of their kind in Australia, bringing in more than $500 million in revenue during the life of the arrangements.
The revenue will be reinvested into the Sydney public transport network, according to a statement by Maddocks, who noted JCDecaux will manage advertising on the concourses and platforms of Sydney Trains’ stations, as well as roadside billboards and posters. Meanwhile, Revolution360 will manage advertising on roadside bespoke assets.
“Maddocks advised Sydney Trains on all aspects of this matter over a two-year period. The Maddocks team – led by partner Jeff Goodall and senior associate Harriet Royle – advised on the initial request for proposals (RFP) stage and then assisted with the agreement qualifications raised by the tenderers. The firm also assisted with negotiations with the tenderers and finalising the agreements at award,” Maddocks said.
Commenting further, Mr Goodall said: “Sydney Trains is an innovative organisation, and we have been really excited to work with its advertising & revenue, procurement and legal teams to help them deliver on their vision for outdoor advertising on Sydney Trains’ network.”