Capetonian Ratepayers Adopt their New R4.4Bn White Elephant

Capetonians to foot stadium bill

2010-10-06 18:17
News 24

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 R4.4bn 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 the lease, due to start on November 1, and "severe operating constraints" had caused the company to withdraw from the lease.

"The operating cost was surprising," he said.

"The maintenance costs were way above expectations.

Read more »