Eddie is mental. His problem is that he doesn't like the stadium contracts the clubs have agreed to, so his solution is to knock the building down and build a new one somewhere else. The lesson there is, never lease your house to Eddie.
My understanding was that the AFL will own Etihad in 9 years or so. If it takes takes 6 years to devise and build a new one and it costs you a billion dollars, a more sensible solution might be to prop up the clubs to cover the three year gap and bank the remaining $950 million.