On Friday, Western Province Cricket Association (WPCA) announced plans to upgrade Newlands in a new office-block development that will cost the union R750 million.
As per the latest cricket news, the development will see four new office blocks erected on the northern precinct of the stadium which will be selected out for office space.
Cape Cobras CEO Nabeal Dien said that Sanlam will cover-up 51 percent of the costs, while WPCA will increase the remaining 49 percent.
For the time being, Varsity College has committed covering one of the buildings and will have around 40 percent of the area. By December 2020, the first stage is expected to end.
Dien said, “There are still some sensitive agreements that we are busy concluding. This is a journey that started around 10 years ago and the main purpose of this journey was the sustainability of cricket. We only occupy revenue-generating opportunities on certain days of the year … so here is an opportunity to create a 365-day opportunity.”
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Furhtermore, the long-term plan and phase two and three will witness upgrades to the offices along with the president’s pavilion, which will take place in 2024.
He said, taking everything in mind regarding the commitment will take the union into debt, Dien is confident that the research which has been done will help in generating funds. “I don’t think we would have gone into this, and neither would Sanlam unless we saw a viable outcome.”