New company to run Stadium complex A LIMITED liability company has been established to take over the administration of the Independence Park Sports Complex, which includes the National Stadium and National Arena. Minister of Tourism and Sport, Portia Simpson Miller, told the House of Representatives on Tuesday, that the new company would handle the management and marketing of the complex which has been losing money. In pre-Budget statements to the House's Standing Finance Committee, she had revealed that the complex had made only $8.5 million in revenues last year, most of which was rental fees paid by the churches for the use of the National Arena. The complex boasts the National Stadium, home of the famous Reggae Boyz World Cup qualifiers and venue for all major local track events, and an Olympic-sized swimming pool. She said that only $800,000 was collected last year for use of the pool, although it costs approximately $4million per annum for upkeep. The complex is currently run by the Institute of Sport, but the Minister said that there was a need to protect the investment and to ensure returns. Hence the Cabinet has approved the establishment of a limited liability company, known as Independence Park Limited, to operate it. The company, which came into effect on May 1, will be charged with the responsibility of ensuring efficient and effective operation of the facilities on a viable basis within government's guidelines and policies. Insport will now only be involved with sports development.
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