A business plan for Cape Town's 2010 Soccer World Cup stadium showed a "positive outlook" for the long term viability of the project, Western Cape premier Ebrahim Rasool and city mayor Helen Zille said on Thursday.

In a joint statement, they said the plan, which covered operational — but not capital — costs, and projected profits, was part of a progress report they received on Wednesday.

"Serious work is continuing on several possible sites for the proposed stadium," they said.

"By the end of July 2006 we will present a full assessment of the various options open to us."

An estimate of the capital costs of the stadium and related infrastructure would be ready then.

Once a financial model for the capital expenditure was completed, the city and province would together approach National Treasury to secure funding.

The design and study phases for the stadium were on schedule, and all deadlines would 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," they said.

Sapa

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