Streaming issues? Report here
money-show-thumbnailjpg money-show-thumbnailjpg
The Money Show with Bruce Whitfield
18:00 - 20:00
volume_up
volume_mute

Up Next: The Aubrey Masango Show
See full line-up
The Money Show with Bruce Whitfield
18:00 - 20:00
Home
arrow_forward
Local

Why the city is planning to lease Cape Town Stadium for R100

17 October 2019 4:00 PM
Tags:
Cape Town Stadium
Greenpoint
Ian Nielsen

Cape Town deputy mayor Ian Nielsen explains why the stadium will be leased to a municipal body for the meagre amount.

Green Point residents and ratepayers have been shocked to hear that the Cape Town Stadium could be leased for R100 a year to a municipal body created to operate and manage the site.

Deputy mayor and mayco member for finance Ian Nielsen explains that the entity is wholly-owned subsidiary of the City of Cape Town.

UPDATE: City says it will re-evaluate R100 lease fee once CT Stadium brings in money

The municipal entity will be responsible for the daily operational costs and maintenance of the stadium, the IOL reports.

Nielsen says the city has entered into a lease agreement with the entity in order to give it operational powers.

He says the entity will be subsidised by the city for the foreseeable future.

This is a purely commercial operation decision. We've created the operating company to manage the stadium as a wholly-owned subsidiary of the city.

Ian Nielsen, Deputy mayor of Cape Town and Mayco member for finance

We own it, essentially. The city also subsidises the operations of the stadium.

Ian Nielsen, Deputy mayor of Cape Town and Mayco member for finance

Having created the municipal entity, we needed to give it the authority to manage the stadium and to be able to sub-lease for example.

Ian Nielsen, Deputy mayor of Cape Town and Mayco member for finance

James Loock of the Green Point Ratepayers' and Residents' Association says that ratepayers were not adequately consulted on this move and don't understand the value of it.

It is not the City of Cape Town who sponsors the stadium, but us, the ratepayers who pay for it.

James Loock, Former chairperson at Green Point Ratepayers' and Residents' Association

We are in the dark as to how this will improve the situation and reduce the load on the ratepayer.

James Loock, Former chairperson at Green Point Ratepayers' and Residents' Association

Listen to the full discussion on Afternoon Drive with John Maytham:


17 October 2019 4:00 PM
Tags:
Cape Town Stadium
Greenpoint
Ian Nielsen

Recommended

More from Local

bulelanijpg

It's a lie that he undressed when he saw law enforcement - community leader

3 July 2020 6:59 PM

The man who was forcibly removed from his shack while naked has denied allegations that he deliberately undressed himself to block being evicted.

Share this:
Read More arrow_forward

school-hallway-pexels-photojpeg

WC Education MEC: Schools allowed to bring more grades back if they apply to HOD

3 July 2020 5:41 PM

Grades R, 6, and 11 must return to school on Monday, while schools with enough capacity may apply to bring other grades back too.

Share this:
Read More arrow_forward

capetalk-micjpg

CapeTalk shakes up its daytime, weekend and early morning line-up

3 July 2020 4:56 PM

You heard it here first: CapeTalk will introduce a new daytime, weekday line-up starting from Monday, 6 July 2020.

Share this:
Read More arrow_forward

ecd-1png

No political will to reopen ECD sector, says prof

3 July 2020 4:13 PM

South Africa's young children remain at risk as there is still no indication of when early childhood development (ECD) centres will reopen.

Share this:
Read More arrow_forward

cape-town-stadium-green-point-123rf

Anchor tenant deal between CT Stadium and WP Rugby enters 'advanced' stage

3 July 2020 1:08 PM

Cape Town Stadium chief executive Lesley de Reuck says officials are finalising the first draft of the anchor tenant agreement.

Share this:
Read More arrow_forward

cleaner-domestic-worker-house-keeper-yellow-glovesjpg

'Domestic workers struggling to access government's special Covid-19 relief'

3 July 2020 12:11 PM

Sadsawu's Myrtle Witbooi explains many domestic workers aren't UIF registered and the direct contact number is hard to access.

Share this:
Read More arrow_forward

bambi-fatmanjpg

Lone hippo finds a new home and companion in Mossel Bay

3 July 2020 11:04 AM

A lone hippopotamus that was found wandering near the Rondevlei section of False Bay Nature Reserve last year has finally found a home.

Share this:
Read More arrow_forward

shack-reerected-in-emplwenipng

Leaked City WhatsApp chat shows ordering destruction of shack again

3 July 2020 10:06 AM

A video of City of Cape Town officials dragging naked Bulelani Qholani from his shack in the Mpolweni site went viral.

Share this:
Read More arrow_forward

Covid-19 coronavirus testing 123rf

UCT epidemiologist: Covid-19 will be with us for at least a year to 18 months

3 July 2020 9:02 AM

Prof Boulle says W Cape trend a lower, flatter trajectory that will continue for a long time but is easier on the health system.

Share this:
Read More arrow_forward

oxygen-mask-medical-care-hospital-respiratory-illness-Covid19-coronavirus-123rf

[UPDATE] Western Cape braces for 'longer and flatter' Covid-19 peak

2 July 2020 7:47 PM

Premier Alan Winde says the province's coronavirus peak will likely be flatter, later, and longer, according to epidemiological evidence.

Share this:
Read More arrow_forward