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Process to rename Cape Town Stadium underway

The City of Cape Town's Stuart Diamond says naming rights are internationally recognised as major contributors to the financial sustainability of stadiums.

Cape Town Stadium. Picture: Supplied

CAPE TOWN - The process to rename Cape Town Stadium for commercial benefit is underway.

The stadium's entity had its first board meeting last week and is marketing the naming rights.

The City of Cape Town's Stuart Diamond says naming rights are internationally recognised as major contributors to the financial sustainability of stadiums.

“In order to make the stadium more sustainable, one of the aspects we’re looking at now as part of our commercialisation plan is to put out the naming rights for the stadium which should bring in some revenue for Cape Town Stadium to make it more profitable.”