South Africa’s Cape Town Stadium is on the hunt for a naming-rights sponsor and is welcoming bids from prospective partners.

South African newspaper The Times reports that the City of Cape Town will appoint a company to market the rights to the stadium, which was built for South Africa’s staging of the 2010 Fifa World Cup.

The stadium has a capacity of 55,000 and is primarily used by Premier Soccer League clubs Ajax Cape Town and Cape Town City. It also hosts rugby fixtures and music events.

Stuart Diamond, a Cape Town mayoral committee member for assets and facilities, said, according to The Times: “The city is in the process of establishing a private company (a municipal entity) much like the company that runs the Cape Town International Convention Centre‚ to manage the Cape Town Stadium in a more commercially viable manner.

“A decision was taken to commence with taking the naming rights of the Cape Town Stadium to the market‚ through the appointment of an expert service provider by way of a competitive process.”

Diamond added: “The appointment of such a skilled and experienced specialist with a proven local and/or international track record will allow for a more streamlined and less time-consuming but still competitive … naming-rights process.”

Diamond said the sponsor must fit the stadium’s ethos and brand. The successful bidder is expected to be appointed in February.

Image: Maryland Pride