Cape Town: Municipality insists stadium is no ‘white elephant’

source: Sport24.co.za / IOL.co.za / Cape Town Argus

Cape Town: Municipality insists stadium is no ‘white elephant’ Though only a handful of events took place at the Cape Town Stadium since 2010 World Cup, authorities claim a plan to make the venue more attractive is being put together - sport24.co.za informs.

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Cape Town Stadium’s situation isn’t too good indeed. Naming rights had been put on sale 4 years ago and no-one acquired them. Joint venture of private managing companies Stade de France and SAIL had been chosen to operate the ground before it was opened, but resigned not long afterwards.

Finally, no major tenant for the venue was found. The football side Ajax did play a few fixtures, but left for smaller Athlone Stadium. Similarly, city’s strongest rugby clubs prefer playing at the Newlands Stadium that suits them more.

As a result only a handful of events took place at the Cape Town Stadium since FIFA returned it after 2010WC. The 55,000-seater generates annual loss of nearly $6m, yet authorities claim they have a plan to change things around. A business plan to sustain the venue in long-term perspective is being worked on right now and the city already announced there are up to 35 events scheduled until the end of 2013. StadiumDB.com understands, though, that these are mostly small-scale ones, like conferences and banquets.

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