The Cape Town Stadium continues to be a drain on ratepayers money in order to maintain it many argue.
But now a municipal entity be established to manage and operate the Cape Town stadium on behalf of the City.
This has been approved by the Cape Town City Council.
EWN's Lindsay Dentlinger chats to John Maytham about the new development discussed at Monday's mayoral committee meeting.
Council will give this entity the final approval next week.
It will operate separately from the City and have its own board of directors.— Lindsay Dentlinger, EWN Reporter
But to start off, it will have the 30 City staff at its disposal who currently work at the stadium.
The aim is for this entity to meet financial targets and be responsible for attracting events but Dentlinger says at this point no clear targets were announced.
There is a great deal of parking underneath the stadium that is never used because until now they were not allowed to charge for parking, she says.
These are all ways they are trying to make money.— Lindsay Dentlinger, EWN Reporter
There is also a tender out for a large proposed building adjacent to the stadium.
They are hoping to create some kind of commercial precinct...to try and draw people and generate income.
It seems there are no new ideas to generate income, just a new body to execute the old ones.
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