Cape Town Stadium in Green Point, which was created for the 2010 soccer World Cup and has a crowd capacity of 18 000, is no longer generating sufficient income to reach its planned targets.
Its June income report showed the stadium received less than its predicted amount of R132-million which goes towards sport and recreation uses. The stadium has been struggling to recover revenue that was forecasted but has not been gained, an amount of R4.6-million was budgeted to be gained from tours, parking rights and naming rights.
However, certain obstacles got in the way of the sign-off process of a potential sponsor for the advertising and naming rights of the stadium.
In an interview with Cape Talk, Lesley Reuck, Chief Executive of Cape Town Stadium, said, “We’re hoping if all comes to fruition that in the next five years we’ll come very close to breaking even.”