Eyewitness News: CT Stadium operating at a loss

Rafiq Wagiet | 27 September 2012
CAPE TOWN - The Cape Town Stadium is still operating at a loss of R43 million a year.

It has been more than two years since the successful hosting of the 2010 FIFA World Cup and major events at the venue have proven to be few and far between.

The stadium hosted Neil Diamond and Colplay in 2012.

City bosses say they are still hoping to amend the current regulations which prohibit commercial activity at the stadium.

The city's Grant Pascoe says the ability to create business opportunities around the venue is a crucial element of its long-term strategy.

“We’ve gone out to get a business analyst and his report has been submitted. We’re now working towards the long-term sustainability of the stadium.”

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CT Stadium operating at a loss

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