Brazil: Who made out from the #WorldCup money?
is the most valuable, lucrative and expensive in FIFA history.
Record numbers include a $35 million prize to the winning team’s federation, $4 billion commercial revenue for FIFA and a $14 billion bill for Brazil.
As street protesters in Brazil know, FIFA’s revenue is untaxed there. World Cup sponsors and media also receive exemptions for their operations as a condition of Brazil’s hosting bid in 2007.
FIFA, however, has spent significantly in Brazil.
FIFA already gave $221.6 million to the embattled organizing committee, and more should follow in last-minute wrangling over paying for essential services.
Odebrecht’s certainly making out like gangbusters:
Brazilian Builder Odebrecht Emerges as World Cup Winner
Odebrecht is helping erect or expand four World Cup stadiums, financed with 1.5 billion reais ($447 million) in subsidized loans from Brazil’s state development bank. The company is one of the biggest contributors to Rousseff’s worker’s party, a relationship not lost on people critical of the World Cup’s cost to taxpayers.
Hmmm . . . Brazil, Inc.,
“Brazil has a lot of state-owned companies and big private firms with strong ties to governments in what I like to call Brazil Inc.,” said Peter Lannigan, managing director at broker-dealer CRT Capital Group LLC. . . .
Campaign donations from five Odebrecht units grew to 37.9 million reais in 2012, from 8.1 million in 2002, according to the electoral tribunal. Odebrecht’s building unit gave 6 million reais to the worker’s party in 2013, as incumbent Rousseff, a former guerrilla who was tortured by the military regime, seeks re-election. Units of World Cup stadium builders OAS SA, Queiroz Galvao SA and UTC Enghenaria SA also ranked among the top 10 contributors
Meanwhile,Stadium hosting World Cup opener between Brazil and Croatia would NOT pass UK safety test
Arena de Sao Paulo will host Brazil vs Croatia World Cup opener without a test taking place that would meet UK legislation
Junior game was held in the stadium but 20,000 were left empty
The Sao Paulo stadium has a capacity of 61,000
FIFA state the arena has passed four different tests at various stages
Two people were killed by a crane during the construction of the arena