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Volume 10 No. 25
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Brasileiro Club Vows Not To Do Anything 'Stupid' In Evaluating Its Maracanã Return

A Brasileiro football club Flamengo senior exec said that the club "will not be pushed to do anything 'stupid' in its negotiations to return to Rio de Janeiro’s Maracanã stadium," according to Tariq Panja of BLOOMBERG. Flamengo "is in discussions with the consortium awarded the rights to run the iconic arena after it was reopened in April" following a $500M, three-year renovation. Flamengo has played in Maracanã since it was built for the 1950 World Cup. Flamengo Marketing VP Luis Eduardo Baptista said, "We’re better off doing it today than tomorrow, but having said that, I can take this decision in five years’ time.” The reconstruction of Maracanã "has proved controversial." Protesters have complained that "the privatization of the facility doesn’t offer value for money to taxpayers who funded the upgrade," which cost 40% more than planned (BLOOMBERG, 6/18).