Tuesday, June 30, 2009

Brazil Cautions Itself About Overspending for 2014

Brazilian President Luiz Inacio Lula da Silva has expressed concern and warning about the country's upcoming 2014 World Cup hosting duties, calling on planners to not overspend and to focus on creating projects and investments that will have a long-term use and viability after the tournament.

His caveat this week came a day after Jerome Valcke, the general secretary of Fifa, said officials were concerned that infrastructure built for the 2010 World Cup in South Africa would become "white elephants".

"We're going to hold the World Cup in 2014 and we shouldn't go overboard and spend what we don't have," the Brazilian president said.

Fifa have approved 12 cities to host games in 2014 and all of them must build new stadiums or refurbish older ones.

2014 World Cup costs a cause for concern
The Star
June 25, 2009