Brazil’s $900 Million World Cup Stadium…
Brazil spent about $3 billion building 12 new or heavily refurbished stadiums for last year’s World Cup. Officials promised these taxpayer-funded venues would continue to generate revenue for years, hosting concerts, pro soccer games, and other events.
But as Lourdes Garcia-Navarro at NPR reports, most stadiums are failing to generate much revenue at all. The most expensive one, in Brasilia, is most regularly used as a site for a municipal bus parking lot.
One big problem is that several of the stadiums — including Brasilia’s 72,000-seat, $900 million venue — were built in cities where there are only minor league pro teams that don’t draw large crowds. This was done so World Cup games could be spread across the entire country, instead of just the southeast, where most of the top pro teams play. It’s as if we built gleaming new stadiums in Montana and Alaska for hosting a World Cup in the US.