A consortium of the Sail Group and Stade de France has been named the preferred bidder to operate Cape Town's Green Point stadium after the 2010 World Cup, the city announced on Monday.

It said it would negotiate a contract with the consortium before the end of October.

"Once a contract is signed the operator will become involved before 2010 to ensure detailed design, planning and a seamless handover from FIFA at the end of the 2010 tournament," it said in a statement.

It said Paris' 80 000-seater Stade de France stadium was one of the most successful and lucrative facilities of this kind in the world.

Sail was the largest sport management company in South Africa.

Naming rights for the stadium would be decided later.

Sapa