Moses Mabhida Stadium not financially sustainable: report

24 October 2012 - 11:20
By Sapa

Durban's Moses Mabhida Stadium is not generating enough money to make it financially sustainable, according to a report on Wednesday.

Audit and risk committee member Peter Christianson said the R3.1 billion stadium built for the 2010 FIFA World Cup was incurring "cash losses", the Mercury reported.

Christianson suggested the stadium be managed as a separate entity, in the same way the Durban International Convention Centre and Ushaka Marine were being run.

He said there was a flow of funds into the stadium but it was difficult to establish what the figure was.

"We also urge that the council investigates all possible options, including reopening negotiations with the rugby union, for the Sharks to move to the stadium," Christianson was quoted as saying.

Ethekwini Municipality spokesman Thabo Mofokeng said one of the options the city could consider was changing the stadium to a legal entity.

This would mean it would have a board to manage its affairs and the city would play an oversight role.

He said negotiations with the SA Rugby Union were at an "exploratory level".