Legends and investment firm 777 Partners are making a joint bid to operate Brazil’s Maracanã Stadium, according to sources. The two American companies have partnered with Brazilian real estate firm WTorre on a proposal to manage the stadium for 20 years. Financial details of the bid were unavailable. Bids are due by this Thursday. Maracanã, the largest stadium in Brazil with a capacity of nearly 79,000, is owned by the government of Rio de Janeiro and currently operated by two soccer clubs, Flamengo and Fluminense FC, which both play home matches there. They are expected to submit a rival bid for the stadium’s future management rights and are believed to be the only challenge to the Legends/777 offer, according to a source.
777 Partners owns rival soccer club Vasco da Gama, which hosts most of its games in Rio’s Estádio São Januário but has sought to play its biggest matches at Maracanã, often with difficulty; in recent years the club has been denied authorization to use the stadium and pursued legal action to secure access. A source said the proposed Legends/777 management would not only ensure Vasco has the ability to use the stadium, but would also give the American companies the ability to host non-soccer events, including concerts, UFC matches and potentially even the NFL. Representatives from Legends and 777 Partners declined to comment.
