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City to evaluate bids to run Green Point Stadium

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City to evaluate bids to run Green Point Stadium

by City of Cape Town
13 Jul 2007
City of Cape Town
City of Cape Town

Three tenders, involving seven business entities, have been submitted to the City of Cape Town to run the Green Point stadium and Common after the 2010 Soccer World Cup.


Tenders closed on 10 July 2007. Mike Marsden, Executive Director for Service Delivery Integration, said that 29 tender documents were drawn and 3 tenders were received. Some of the tenders constituted combined offers. 'Quality matters more than quantity', he said.

Earlier this year, Investec stepped in to underwrite a R185 million funding shortfall on the Stadium. The group had calculated the projected net present-day discounted income from the stadium as being able to cover the shortfall.

"The City's procurement committee will now verify the bids to see if they comply with tender specifications. This would be followed by a bid evaluation committee hearing to analyse and evalute bids," says Marsden.

The next step would be an open sitting of the bid adjudication committee for the award. The process is expected to be completed within the next month.

According to Marsden, there was one tender from a single company, another involving two companies, and a third that was a joint venture between four companies.

"Council is not yet in a position to divulge the names or details of the proposals.

"This tender is different from others in that it will not be evaluated on a final contract price. Amongst other adjudication criteria the evaluation will consider how much the city would be paid for the use of the stadium after 2010 when the top tier of seating would be removed, reverting to a 55 000 seater multi-purpose stadium from its initial 68 000 capacity.

"It is envisaged that the Operator will fit the Stadium out to meet his needs. The seating removed after the World Cup could for instance be replaced by Executive Suites to improve the commercial return on the Stadium

"The tender is also expected to address the potential income to be generated for the upkeep of the Green Point Common," says Marsden.

The Council has committed R120 million for redeveloping the Common as part of the 2010 project. After an extensive public participation process the City is awaiting final approval from MEC Tasneem Essop before commencing the detailed design and redevelopment of the Common.

END

ISSUED BY:
DIRECTORATE: COMMUNICATION
CITY OF CAPE TOWN
TEL: 021 400 2201


MEDIA QUERIES:
PIETER CRONJE
2010 SPOKESPERSON
CELL: 082 465 4965

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