Durban: World Cup stadium in the red or not?

source: IOL.co.za

Durban: World Cup stadium in the red or not? On one hand people hear that Moses Mabhida Stadium has generated a big income since the 2010 World Cup. On the other the cost may have been even higher – IOL.co.za informs.

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Drawing big events to Moses Mabhida Stadium itself cost citizens R50m (app. €5m), not counting hosting and marketing costs. So how much in total? No-one knows, but the subject is back on agenda since it came out that hosting next year’s African Cup of Nations will mean another R10m (€1m) and that only if government agrees to cover three times the amount.

Venue operators suggest that income of R207m (€20m) is an impressive figure and to that one should also add publicity Durban gets thanks to the events, strengthening local businesses. A total of 30 games were hosted here since the 2010 World Cup.

However it is also no secret that all attempts to find an anchor tenant for the venue have failed. Municipality’s acting deputy city manager for sustainable development, Philip Sithole, told The Mercury it was an “open secret” that the stadium was not breaking even.

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