The elephant in the room

2010-10-09 13:24

The elephant in the room turned into a white one this week when Sail Stadefrance ­rescinded a 30-year lease with the City of Cape Town to run the Greenpoint Stadium.

Now the jury is out on the future of the other ­stadiums purpose-built for the World Cup.

A City Press special report in August revealed that a total of R116 million a year was needed to run the beautiful set of stadiums that won us ­international acclaim in June and July.

How are we going to pay? National government is likely to be the first port of call for ­cash-strapped municipalities. But there is another paymaster.

Durban city manager Mike Sutcliffe said this week that the host cities had billed Fifa for an ­estimated R500 million in outstanding billings and a portion of ticket sales owed to them.

If they succeed, that will provide some ­fiscal space for about four years.

But municipal finances are never so simple, and the money is probably earmarked for other World Cup creditors.

Moses Mabhida Stadium in Durban and Royal Bafokeng Stadium in Rustenburg seem furthest ahead in securing running costs.

But there are concerns about the Peter Mokaba Stadium.

Its keepers have not yet raised the red flag as Cape Town’s tenants did this week.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/Sport

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.