The Nelson Mandela Bay Stadium released its 2013/14 financial results in a presentation to the Nelson Mandela Bay Municipality Budget Monitoring Forum late last week showing a marked improvement year-on-year.
The NMB Stadium revealed an operating loss of just over R12-million, a decrease from the previous year’s loss of R29.5-million.
Stadium chief executive Chantal Du Pisani said: “Management has made every effort to improve the financial status of the stadium, by exploring other sources of revenue and decreasing the expenditure budgets to contain the minimum requirements to operate the NMB Stadium as a world-class venue. This is evident in the improved financial figures.”
The upward income trend in 2013/14 also occurred in the context of a diminished international sports offering, Stadium management said, referring to the fact that there was no Super Rugby or African Cup of Nations (Afcon) action during the past year.
Revenue during the 2012/13 Financial Year – which featured both Super Rugby and Afcon fixtures – was R59.8-million compared to R46.9-millon this year, indicating the significant financial impact these events had on the stadium’s direct revenue streams.
This reality is motivating the Stadium management and the city to lobby for further events of this calibre.
A year-on-year comparison shows that the stadium is succeeding in bringing its operating costs in line with revenue generated, with an upward income becoming trend evident.
With the Currie Cup fixtures and new football anchor tenant Chippa United in place, the Stadium remains bullish about the future, Du Pisani added.
Editor: Let’s support the stadium to profitability as this, in turn, will help the Stadium find a solution to the noise problem increasingly being highlighted by neighbours who are taking an additional one for the ratepaying team so to say. See the comments below this letter to the editor: The stadium, human rights abuses and here: A victory (of sorts) for the little man.
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Article source: http://mype.co.za/new/stadium-loss-at-r12-million/39879/2014/09