This was announced by the sports minister Likeleli Tampane at a media briefing held on Monday following a tour of the stadium earlier that day.
The minister said the facility which has been under the administration of LSRC since 2017, has deteriorated to a point where it is no longer able to host international sporting events.
“We have therefore resolved to outsource the management services of a private company under strict conditions to run the facility,'' she explained.
Tampane who expressed her disappointment after touring the facility due to its shabby condition said the only international sporting facility in the country seems to have been neglected and therefore needs new management to properly run it for the benefit of the athletes as well as revenue collection for the government.
She highlighted that during the renovation, if need arises, some international sporting activities will be forced to be held outside the country, in places like Bloemfontein.
The minister reassured Basotho that the transfer of management services to the private company will be transparent as it will be made through open tendering to both local and international companies which will meet certain conditions that will be specified clearly in the memorandum of understanding (MOU).
However, she showed that Basotho will still be given priority as part of promoting local businesses, more especially in the aftermath of the COVID-19, which she said left the economy shattered with many people unemployed.
Speaking at the same event, LSRC President Advocate Jobo Raswoko commended the minister for being passionate about sports, saying she reminded him of the former Minister 'Mathabiso Lepono whose love for sports was legendary.