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Olympics

Rio De Janeiro Olympics Facing Deep Cuts Unseen In Decades

Cuts, cuts and more cuts -- "that's the situation facing international sports federations, with just over six months to go before the Olympics in Rio de Janeiro," according to Stephen Wade of the AP. Brazilian organizers "will be meeting next month with federation leaders," and World Rowing Exec Dir Matt Smith "already knows what to expect: He's bracing for news that 4,000 temporary grandstand seats at the rowing Olympic venue won't be built." At the swimming venue, "several thousand seats have already been slashed." And the world governing body for sailing "learned more than a year ago that bleachers it wanted had been ruled out." TV viewers will not notice when South America's first Olympics open on Aug. 5, "but Rio organizers are scaling down everywhere to eliminate" about $500M to balance the operating budget of 7.4B reais ($1.85B). Smith said, "I've been around since Los Angeles in 1984 and we haven't been in such a situation where a country that is staging the games is in such a vulnerable situation." Brazil is "buffeted by the worst recession since the 1930s." The currency "has plunged" almost 50% against the dollar, and inflation is over 10% and rising. In addition, President Dilma Rousseff "is facing impeachment, partly driven by a billion-dollar bribery scandal at state-run oil company Petrobras." Smith: "We haven't had to face anything like this. It was a bold move to go to an emerging country. The IOC deciding to go to South America was a really important, strategic issue -- but with all the associated risks." The IOC "is trying to find a positive angle, talking up austerity" after the overall $51B figure associated with the 2014 Sochi Winter Olympics scared away many potential bid cities. Olympic Games Exec Dir Christophe Dubi said, "We are looking into each and every budget item. I think this is setting a new benchmark. The result is heading in the right direction. They (organizers) have found efficiencies, and I wouldn't call it cuts" (AP, 1/15).

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