Eastern Cape
Nelson Mandela Bay stadium records a loss of millions

The Nelson Mandela Bay Stadium had recorded a loss of R19.3m by the end of May.

Despite the injection of finances from Super rugby, the stadium is still running at a loss

Despite the injection of finances from Super rugby, the stadium is still running at a loss

That’s according to a finance report on revenue and expenditure for the first 11 months of the current financial year.

The report by stadium operator Access Facilities and Leisure Management states that the loss had been larger than anticipated.

Access says that this can be attributed to poor public attendance at stadium events during the last quarter of the financial year.

Income figures presented with the report reveal the impact of Super 15 Rugby – showing that while the sale of suites for matches totalled R5.2m in the third quarter, a loss of R176 000 was projected for the final quarter.

(Source: Metro Minute to subscribe mail metminutes@iafrica.com)

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