Moses Mabhida losing cash

2012-10-24 10:26
Moses Mabhida (Gallo)
Durban - Durban's Moses Mabhida Stadium is not generating enough money to make it financially sustainable, the Mercury reported 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".

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 spokesperson 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"


What To Read Next


Read News24’s Comments Policy 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
Comments have been closed for this article.
Live Video Streaming
Video Highlights
Sport Talk

Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter


With the Absa Premiership in full swing, who will be crowned champions when all is said and done? Will Mamelodi Sundowns defend their title? Or can Kaizer Chiefs, Orlando Pirates or Bidvest Wits mount a serious challenge? Stay glued to Sport24 to find out!

Latest blogs

Who will claim the Premier League title at the end of the 2016/17 season?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

There are new stories on the homepage. Click here to see them.