Update: Singapore, Sports Hub Ptd Ltd (SHPL) released a statement last Friday saying that there will be no termination of the Venue Operation Contract (VOC) that GSP has with the SHPL. SHPL's statement comes after Friday's meeting between SHPL, InfraRed and GSP in the United States. 

The statement read: "Contrary to published reports, InfraRed has not proposed a termination of the GSP VOC and no such termination was considered at the meeting." 

First article:

According to sources in Singapore, Sports Hub Ptd Ltd (SHPL), the SPV owner of the Singapore Sports Hub PPP project, is proposing to terminate the contract of its venue operation partner, Global Spectrum Pico.

The decision could have made at a meeting of the Board in the United States yesterday February 18.

SHPL is a team of companies led by major equity partner InfraRed Capital Partners (through its InfraRed Infrastructure Fund III) and composed of DTZ Facilities & Engineering (S) Limited, Global Spectrum and Dragages Singapore (Bouygues Group).

The operator of the Hub, Global Spectrum Pico, is a joint venture between Philadelphia-based Comcast Spectator Group and local event management company Pico.

As the venue operating partner, they are responsible for booking and managing concerts and sports events, as well as marketing the facility to local, regional and international clients, and the Singaporean community.

According to sources, SHPL is not satisfied with the commercial deals undertaken or signed by Global Spectrum Pico. They are proposing for the consortium to take on the venue operator’s role as part of a restructuring of SHPL.

SHPL has a 25-year contract with Sport Singapore, the procuring agency, to design, build, finance and operate the Sports Hub.

SHPL Chairman Mark Woodhams said in a statement that the team conducts periodic internal and external reviews, with a view to evolve the standards of service delivery, but that is as part of the normal course of business. He di not clarify whether a major change will take place or not.

The Sports Hub has been criticized due to problems with the calendar of events and the grass pitch. Two hospitality suite owners at the National Stadium were seeking legal action against the Sports Hub, with one claiming that they had not delivered on the promise to stage at least 15 public-ticketed events a year.

The project had a capital value of US$1.4bn and involved the construction and operation of a 55,000-seat stadium, an aquatic centre, a multi-purpose indoor arena and supporting retail and commercial developments. The project obtained financial close of 25 August 2010.