With less than two months before the start of the 2016 Olympic Games, Brazilian authorities "are scrambling to finish a subway expansion and the velodrome," according to Levin & Novy-Williams of BLOOMBERG. They are "also trying to assuage fears about the Zika virus." And the country "is in an unprecedented economic and political crisis."
Against this backdrop, Sports Minister Leonardo Picciani said that Rio 2016 organizers "are seeking more sponsorship from state companies to shore up resources for the opening ceremony," which has a budget of R$250M ($72.9M). No decisions "have been made about which company," though Picciani mentioned both Petroleo Brasileiro SA, the postal service and export and investment agency Apex-Brasil, as well as state-controlled banks. Brazil’s acting President Michel Temer and IOC President Thomas Bach "will meet with Picciani next week to discuss possible sponsors." Picciani said that the IOC "is looking for more financial wiggle-room." He said, "They have brought up issues of currency fluctuations, but even if the government or any state-owned company doesn’t sponsor the event, they have their own contingency plans." With regard to the subway, the minister said that the new line is expected to be finished by Aug. 1 or 2, just before the Aug. 5 Opening Ceremony (BLOOMBERG, 6/10). REUTERS' Rodrigo Viga Gaier reported Rio de Janeiro city officials said that local authorities "have suspended work on the arena hosting beach volleyball events at the Olympics in August due to a missing permit." A spokesperson for the Rio 2016 Olympic organizing committee, which is responsible for the temporary structure, said that the paperwork "would be submitted on Monday and the issue would not delay completion of the arena" (REUTERS, 6/11).
