With an initial cost of R$820M ($262.3M), Brasileiro side Corinthians "will finalize the construction of its stadium" for a total of R$985M ($315.1M), according to the GAZETA PRESS. Aside from the fixed-price construction agreement to build the Arena Corinthians with Brazilian construction company Odebrecht, the club was charged additionally "in the middle of construction, [amounts] that would have theoretically covered expenses in the originally established project." In '13, Corinthians hired engineering company Tessler Engenharia "to analyze the situation" by auditing the project and creating an expense report. Tessler concluded that the original R$820M "was enough to complete the arena as planned." At the end of '13, Odebecht "claimed to have no money, that all resources had been used and more were needed to finalize construction." Corinthians and Odebecht came to the conclusion, as shown by Tessler reports, to "make cuts ... so the final construction cost would land lower than it appeared." At the time of construction in '11, Odebrecht "estimated a maximum" of R$18M "could be charged" for construction costs. This left an additional "wasted" R$147M. Corinthians "did not respond to any questions asked of the report" and Odebrecht "confirmed their denial of the audit and that the entire project was realized with trust between both parties" (GAZETA PRESS, 3/11).
