Cape Town - While the Cape Town Stadium is a source of great pride, its financial viability is of great interest and concern to both residents and businesses alike, according to the city's executive mayor Patricia de Lille.
"This has resulted in the City of Cape Town taking several measures to proactively and constructively shape the future of the stadium," she said at the annual meeting between the local business sector and the City Council, held at the stadium.
The City commissioned an international best practice study of how stadia across the world operate in a sustainable manner.
"The findings have a common thread throughout in that the Cape Town Stadium will only attain a measure of financial success if a basket of rights, that enable commercial or income-generating activities, are secured," said De Lille.
This has given rise to two further processes that are currently underway.
The first is an investigation to determine the most appropriate long-term management and operating structure for the stadium.
Once completed, the City Council will be required to decide on the most viable management option including the future status of anchor tenants.
Public consultation processes are built into the execution of this process.
The second revolves around the granting of a set of land use rights that will enable the activation of several business and revenue-generating opportunities.
Current provisions restrict such activities on non-event days. Again public consultation processes will be undertaken.
The two processes are expected to be concluded by June 2015.
"The fact is that both government and the private sector have equally important roles to play in making our society function and our country work," said De Lille.
"The private sector creates the conditions in which those policies can be expressed and fund how they are articulated."
She said that does not mean there is one joint force expressing one opinion and acting with a single intent.
"That would be unhealthy for democracy; it would be unhealthy for the market; and it would be unhealthy for the individual," she said.
"That constructive difference signifies our independence of each other and the nature of the constituencies and interests that we serve."
She said that does not exclude treating each other honestly and openly and exploring new ways to further all interests.
"While it may be strained elsewhere in South Africa, in the Western Cape it is going from strength to strength," she said.
- Fin24
"This has resulted in the City of Cape Town taking several measures to proactively and constructively shape the future of the stadium," she said at the annual meeting between the local business sector and the City Council, held at the stadium.
The City commissioned an international best practice study of how stadia across the world operate in a sustainable manner.
"The findings have a common thread throughout in that the Cape Town Stadium will only attain a measure of financial success if a basket of rights, that enable commercial or income-generating activities, are secured," said De Lille.
This has given rise to two further processes that are currently underway.
The first is an investigation to determine the most appropriate long-term management and operating structure for the stadium.
Once completed, the City Council will be required to decide on the most viable management option including the future status of anchor tenants.
Public consultation processes are built into the execution of this process.
The second revolves around the granting of a set of land use rights that will enable the activation of several business and revenue-generating opportunities.
Current provisions restrict such activities on non-event days. Again public consultation processes will be undertaken.
The two processes are expected to be concluded by June 2015.
"The fact is that both government and the private sector have equally important roles to play in making our society function and our country work," said De Lille.
"The private sector creates the conditions in which those policies can be expressed and fund how they are articulated."
She said that does not mean there is one joint force expressing one opinion and acting with a single intent.
"That would be unhealthy for democracy; it would be unhealthy for the market; and it would be unhealthy for the individual," she said.
"That constructive difference signifies our independence of each other and the nature of the constituencies and interests that we serve."
She said that does not exclude treating each other honestly and openly and exploring new ways to further all interests.
"While it may be strained elsewhere in South Africa, in the Western Cape it is going from strength to strength," she said.
- Fin24