Today we received a progress report on the planning of aspects of the 2010 World Cup preparations for Cape Town. The presentation included a business plan for the operational costs and projected profits of a proposed stadium.

We are happy to announce that the business plan shows a positive outlook for the long term viability of a new stadium.

Serious work is continuing on several possible sites for the proposed stadium, and by the end of July 2006 we will present a full assessment of the various options open to us.

The presentation given today is an important step, and suggests that we are heading in the right direction. It did not include an assessment of the capital costs of the stadium and related infrastructure. However, this will be ready in July.

Once we have a financial model for the capital expenditure required, we will approach National Treasury together in order to secure an adequate financial commitment.

The design and study phases for 2010 are on schedule, and all deadlines will be met. We will, at all stages, work together to ensure that the planning for the hosting of a successful World Cup in the interests of Cape Town and the Province.

For further information please contact:

Dr Laurine Platzky 082 8080 965
Robert MacDonald 082 638 7710

Shado Twala
Director: Media and Public Relations
Office of the Premier of the Western Cape
Tel: 021 483 5642
Fax: 021 483 5636
Cell: +27 (0) 83 640 6771
Email: stwala@pgwc.gov.za
http://www.capegateway.gov.za/premier
Address: Provincial Parliament, Mezzanine Level, Office of the Premier, M7, 7 Wale Street, Cape Town, 8001