The Nelson Mandela Bay Stadium expects to generate a profit by 2013 and the company appointed to manage the facility, Access Management, has already contributed R11 million to the city’s annual running costs of R21 million for the stadium.
It says that by next year, revenue levels will grow to at least R17 million and from 2013 the company will start making a profit from the stadium. It is the only stadium built for the 2010 Soccer World Cup that is making a significant contribution to the annual running costs.
For instance, the Cape Town Stadium in Greenpoint cost R4.5 billion to build and R57 million a year to operate but city officials are unable to predict when – or for that matter if – it will be self-financing.
According to Access Management’s chief executive, Stephan Pretorius, the stadium has the support of Super Rugby in the Eastern Cape and 49 of the hospitality suites have been sold out to rugby fans for the next three years.
The Premier Soccer League supports the stadium with regular matches involving big-name teams such as Kaizer Chiefs, Orlando Pirates and Mamelodi Sundowns being played at the venue. Added to this there are a number of concerts and music festivals that take place at the Nelson Mandela Stadium.
The stadium is the only facility in the country to have an anchor tenant in the form of EP Rugby and The Bay branch of the South African Football Association is also based at the stadium.
Pretorius says that the stadium and its management has proved to the people of Port Elizabeth that the stadium is not a white elephant and is good for the city as a whole.
Port Elizabeth does not have a soccer team in the Premier Soccer League and also does not boast a top-level rugby franchise either.
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