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SBD Global/December 19, 2013/Events and Attractions

European Commission Approves France's $1.38B Contribution To Stadiums For Euro 2016

The European Commission has found that France's public support for the construction and renovation of nine stadiums to host the Euro 2016 is in line with EU state aid rules. After the event, the stadiums will remain available to clubs and citizens for social, sports and cultural events. The Commission therefore concluded that the measure will further the promotion of sport and culture without unduly distorting competition in the EU internal market. EU Competition Commissioner Joaquin Almunia: "France will build and renovate 9 modern multifunctional stadiums. This will not only allow for a smooth organisation of the UEFA Euro 2016 but will also promote sport and culture in France and benefit clubs and citizens for many years after the championship." France was chosen to host the tournament in '10. To comply with the UEFA requirements, France plans to provide around €1B ($1.38B) in public support for the construction or renovation of nine stadiums. The project covers the construction of four new stadiums in Bordeaux, Lille, Lyon and Nice and the renovation of five existing ones (European Commission).
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