Don't know of any plans to keep it, but it's not been used for a long time
Chicken and egg.
It's been used socially but not for organised events because the council (of all persuasions) haven't kept it in a decent state. It's a natural ampitheatre that could and should be used for an awful lot of events.
I've been there for galas, It's a Knockout, Military Shows, Sports Events, Fireworks, Royal Visitors flying in. There's a multitude of uses if it was properly looked after.