​​The establishment of a municipal entity is the proposed preferred management model for the Cape Town Stadium.

The proposed municipal entity will operate as a State-owned company with an independent board. The City will be the sole shareholder.

The municipal entity will be tasked with appointing a specialised service provider whose primary function will be the commercialisation of the Stadium to increase its use and financial viability. This will ultimately reduce financial dependence on the City’s fiscus.

In terms of the Municipal Finance Management Act, an assessment of the financial implications that this would hold for the City had to be completed before a final decision to establish a municipal entity could be taken.

The assessment considered the impact that the creation of a municipal entity would have on City staff employed at the Stadium and on the assets and liabilities of the Stadium.

The information statement and assessment are now available for public comment and input during a month-long public participation period. These documents can be accessed on the City of Cape Town website: www.capetown.gov.za/haveyoursay or at the City’s libraries and subcouncil offices.

Residents and interested and affected parties may submit their comments and recommendations from today, 12 November 2016 until 12 December 2016, using one of the following platforms: