Cape Town Stadium, considered one of the most beautifully located stadiums in the world, is seeking bidders to manage the venue commercially. It is a move similar to Soccer City, also built for the 2010 World Cup in Johannesburg, which is now named FNB Stadium.
The venue, situated in Green Point, can seat 68 000 people – but is not being used to it’s full potential. The City of Cape Town is hoping that auctioning the naming rights will provide a sustainable income stream for the venue. There will be an appointment of an expert service provider by way of a competitive process to gather bids.
Mayoral committee member for assets and facilities, Stuart Diamond said that the city is in the process of establishing a private company (a municipal entity) much like the company that runs the Cape Town International Convention Centre‚ to manage the Cape Town Stadium in a more commercially viable manner.
Diamond said that the market would determine the naming rights and the successful bidder would be appointed on February 9, 2018.
“The city will be looking at sponsors that relate to its ethos and brand. It will be expected that the sponsor will have a reputable corporate image and that their brand principles are aligned with those of the city‚” he said.
There are also discussions in the pipeline about moving Western Province Rugby Union from Newlands to the newly named stadium.