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Private Sector Paid for Only 7% of the World Cup Stadiums
01/07/2015 - 09h10
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MARCEL RIZZO
FROM SÃO PAULO
PAULO PASSOS
SPORTS ASSISTANT EDITOR
Official figures from the federal government show that the private sector paid for only 7.2% of the final cost of the 12 stadiums built or renovated for the 2014 World Cup.
The numbers contradict the argument defended by Ricardo Teixeira, President of the Brazilian Football Confederation (CBF), when Brazil was chosen to host the World Cup in 2007.
At the time, a report prepared by Fifa's Committee, based on information given by managers and Brazilian authorities stated that the priority would be private financing through long term leases and eventually public-private partnerships would be an option.
"The less public money is invested, the better the World Cup will be. Greater investment must come from the private sector", said Ricardo Teixeira in a statement released in 2009.
Altogether, US$ 3 billion (R$ 8.3 billion) has been spent on stadiums _ a real increase of 20% compared with the first version of the project, released in January 2010.
Most of the investments were paid by the municipalities, State government and the Federal District. The government afforded 47% of the total cost or US$ 1.44 billion (R$ 3.9 billion).
The remainder (US$ 1.4 billion or R$ 3.8 billion) was financed by The Brazilian Development Bank (BNDES).
According to the Ministry of Sports, "the cost of the new multipurpose arenas is the same worldwide; they are part of the sporting legacy left by the mega event".
The World Cup's most expensive stadium was Mané Garrincha, in Brasilia. 100% of the amount spent there (US$ 520 million or R$ 1.4 billion) was paid with public money from the Federal District.
Translated by JULIANA CALDERARI