Said Khoza: "We agreed on an exchange rate of R7 to one US dollar. We realise that the dollar rate of exchange will fluctuate between now and 2010.
That means the LOC will bear the cost if the exchange rate goes above R7 to the dollar. The rate of exchange will be in force for next June's Confederations Cup as well."
Tickets for the Confederations Cup which will be run from June 14-28 will be on sale on November 23 – the day after the draw for the competition, which is used as dress rehearsal for the World Cup finals.
But Bafana Bafana's slump in form is a serious concern to not just the public but to the LOC and to the president of Fifa, Sepp Blatter who arrived in South Africa on Sunday for a four day courtesy visit.
Blatter was critical of Bafana for failing to qualify for the 2010 African Nations Cup finals in Angola.
Khoza said: "France did not qualify for the 1994 World Cup finals and won the World Cup on home soil in 1998. Germany were written off before the 2006 World Cup and they ended third.
"So I am hopeful Bafana will produce the goods in 2010." But Khoza admitted Bafana face a much more serious challenge than Germany and France in 2010.
Said Khoza: "We do not have too many players in top leagues in Europe. Also our players seem to have shrunk in size since 1996 compared to the west Africans."
Khoza said the solution was to pump more money in to the Premier Soccer League: "We must also make sure the South African Football Association gives the Bafana technical team as much support as they can and hopefully Bafana will rediscover how to score goals."
Blatter and Valcke met former president Nelson Mandela on Tuesday afternoon in Johannesburg where they presented Madiba with a replica World Cup trophy.
Sapa