Leaving A Legacy Of Debt


You often hear politicians say that hosting the World Cup Football event will leave a legacy for years to come. It all depends on what type of legacy they are on about as it looks like a certain few benefit and the rest are held carrying the bill for years to come.

If we take Brazil as an example and have a look at what and how the stadiums are being used now and the financial implications it will tell a different story. In 2014 Brazil spent more than $300 Billion on the Football stadiums and like every so called Sports Minister he pronounced they were leaving a legacy.

Brazil hosted the matches and spread them out around the country so everyone would get a flavor of the tournament even though some areas don't have professional football teams. This surely would raise red flags for later as when the tournament was over who was going to be filling the seats and watching what type of sport.

There was definitely no thought process involved with this and countries need to think long and hard before submitting a bid. The world has changed and debt cannot just be written off as there is too much debt already. Question marks are and always will be raised with how FIFA operate as greasing of palms to make their money has been a away of life. Like most politicians as it is like a government body on its own it will turn a blind eye until someone is caught. It seems it is okay to be corrupt but don't get caught as it then threatens all of the others incomes at the same time.

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Above is the spectacular Arena Amazonia which cost in excess of $300 Million to build. This stadium is in the city of Manaus and doesn't have a professional football team. The place is miles from nowhere and the local football teams don't use it as they have to hire the venue out. The stadium doesn't even attract concerts as Kiss gave them a miss on their tour of Brazil. This one will be interesting to revisit in about 10 years to see if it looks more like an overgrown ruin. The people of Manaus will be footing the bill for the maintenance of this white elephant though as this is how it works.

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The most expensive stadium at a cost of over $500 Million the National Stadium or locally known as The Estadio Nacional in Brasilia. The capital doesn't have a top flight team so it is unused and is a parking lot for buses instead. The stadium hosted 7 World Cup games and is now another white elephant.
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Finally a stadium that has a professional team in town Atlético Mineiro, but yet it is still not used by them. The team says they can't afford to play there as they make no money from the games due to the costs charged by the stadium owners. Instead they are going forward with anew stadium which they will own themselves. they currently use the old Bella Horizonte stadium for their matches.

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As you can see this is not painting a pretty picture and it doesn't get any better either.The 42,000-seat Arena Pantanal in Cuiabá is now not used by the local teams either who only draw a few 1000 fans a game maximum and the locker rooms have been taken over by homeless people today.The photograph below make sit look impressive but it is another white elephant that cost over $200 Million to build. The residents of this city will be paying for years to maintain this and are better off tearing it down as soon as possible.
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When I say it gets worse I am not kidding. The last two are trying to make ends meet by using the stadiums to host weddings and kids birthday parties with little success. The problem seems to stem from the owners of the stadiums asking too much money to rent the stadiums out and are now left carrying the bill.
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Arena das Dunas in Natal.
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The Arena Pernambuco

The whole problem of hosting a World Cup is not hosting the event as such but making the event work for you as a country. These are great venues that they built and are now left abandoned. Surely someone with a brain could see what was coming. Maybe there is so much corruption going on they didn't care as it would fill their pockets and then they could leave it someone else to worry about. Today the people of Brazil have been lumbered with a bill that will take a generation to pay off for literally 8 weeks of madness.


Comments 13


Football is a game which have to play with mind and leg may be, but The feelings for it should have to be in heart & I think Brazil is quite enough on this run.

15.08.2019 20:51
2

I don't really know what to say about this particular issue football should be for love and passion and not for self interest.

15.08.2019 21:15
2

I've seen worth, football fields built downhill, sports halls built in places where there were no roads, not even running water. And all of this because the relatives of the minister had to get some contracts and state funds.

15.08.2019 21:22
2

It only makes sense in countries with existing leagues that have strong followings and can use the stadiums again. The European countries or over in America and places that can use them. Quatar will be more of the same for the next one.

15.08.2019 22:23
2

That is something unimaginable.
As a whole they should find a way to put them to use.
Again the economic of the country is the problem.

16.08.2019 04:57
2

I remember back in the day when the world cup was held in Michigan. I was just a kid, but they used the Superdome which was a building that already existed. That was really smart of them I think. It was huge and it held a ton of people. It is all in ruins now, but that wasn't because of the world cup. I have always wondered what happens to all of the stuff they build out for the Olympics and things like that after the hype dies down. It seems like they would be better off having them in one location all the time. I know that takes away from part of the excitement, but fiscally it just makes more sense.

16.08.2019 11:51
2

It was great moment. A tournament the whole world will neva forget. Love you man @cryptoandcoffee

16.08.2019 15:19
2

I once watched a documentary on stadiums after with a World Cup or Olympics, you really need to see the shambles many of them are left at.

My country also has her own fair share, we were grossly in debt and also can't maintain many equipment after the Olympics.

16.08.2019 19:27
2

It just doesn't seem right. What country are you from then?

16.08.2019 22:56
0

A true story:

After having gone through the brief of a commercial dispute, a partner of a legal firm said to its client (a public listed company), "We have a very good case, we advise you to proceed to litigation."

The client gave instructions to the legal firm to proceed with litigation but they lost the case at the High Court. The lawyer reassured its client and said again, "We have a very good case and should appeal to the Court of Appeal."

Again they lost and again the lawyer repeated the same mantra and the case proceeded to the Supreme Court where they lost again, without any avenue for further appeal.

After having lost the case and TWO MILLION DOLLARS IN LEGAL FEES, it dawned on the client that the word "We" in the sentence "We have a good case" was actually referring to the legal firm and not the client!

Likewise, when the politicians say, "We are leaving a legacy" what they actually mean is that they, the politicians, are leaving a legacy for their own next of kin!

17.08.2019 03:45
2

You are most likely spot on with this as most of the officials are so corrupt and the $ counts for way more than common sense.

17.08.2019 17:03
1

Corruption has been a curse of the developing countries. This does not mean the developed countries are free of corruption. Just that it is subtle and not pervasive.

Corruption is rife in countries where political issues center around race, religion, gender, sex and not development or social and economic well being of its populace. Race, religion, gender and sex issues are smokescreens to fool the gullible citizens.

18.08.2019 03:08
0

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19.08.2019 21:56
0