South Africa: What now for Cape Town stadium?
October 6 2010 at 11:54pm
Cape Town – Ratepayers will end up paying for Cape Town stadium’s operating costs after Sail Stadefrance walked out on a 30-year lease to manage the property.
“We do not have final numbers on what this will cost the ratepayer. In the end it will be up to the citizens of Cape Town on whether they come to the stadium to support the teams and events,” the city’s acting mayor Ian Neilson told reporters on Wednesday.
The city will take over management of the R4.4-billion stadium.
Sail Stadefrance said it had projected “substantial losses” if it took up the project.
Sail Stadefrance Operating Company (SSOC) chief executive Morne du Plessis said “unresolved matters” affecting the viability of [continue reading]