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SBD Global/March 29, 2013/Facilities

Botafogo To Suffer Financial Damage From Closure Of Rio's João Havelange Stadium

Rio de Janeiro's João Havelange stadium tenants Botafogo "will seriously feel the financial damage" from the decision to shut down the stadium due to roofing issues, according to Perazzini & Borges of LANCE NET. Engineers have estimated that a solution for the roofing problems will take at the minimum two months and with this "the various sources of income from the stadium are affected." If the stadium is indeed closed for two months -- the best case scenario -- the Brasileiro club will lose out on R$320,000 ($159,362) from renting its arena to two other Rio de Janeiro clubs. Flamengo and Fluminense were due to rent the stadium a total of eight times over the next two month at a cost of R$40,000 ($19,920) per match. Botafogo "will also lose out" on the revenue it would have generated from parking and food and beverage sales. The club had also already been paid for the 72 boxes in the stadium it commercialized for this year. Each box was sold at a price of R$80,000 ($39,840) for the year. If all the buyers ask to be reimbursed for two months, the club will lose out on R$960,000 ($478,000) it already had in its accounts (LANCE NET, 3/28).

NO OLYMPIC IMPACT: XINHUA wrote Rio de Janeiro Mayor Eduardo Paes "has denied the closure of the city's Olympic athletics stadium will affect preparations for the 2016 Games." Paes said, "We already have a lot of responsibilities ahead of the Olympics but luckily we are within the expected time frame and can handle the situation." Consorcio Engenhao, the building consortium responsible for the project, said that it is "collaborating with the local government to find a quick solution" (XINHUA, 3/28).

SERIOUS BUSINESS: REUTERS' Rodrigo Viga Gaier wrote engineers said the damage to the stadium "is serious." Rio government public works department RioUrbe President Armando Queiroga said, "We've received a report about the stadium and it did not come with any solutions attached. We need from 30 to 60 days to find the solution and after that we will have some perspective" (REUTERS, 3/27).
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