An audit conducted by Grupo Sporting, which manages Portugese side Sporting Lisbon's new Alvalade stadium, revealed that the stadium cost nearly €80M ($89M) more than the amount "initially foreseen for construction, meaning there was a 75% diversion" of funds, according to LUSA. The estimated value of construction on April 27, 2000, was around €106M but the cost totaled €184M. The audit document said, "The final construction cost represents a diversion of 75% of the initially foreseen investment and a diversion of around 35% of the investment amount revised and presented in February of 2002." In relation to contracts with suppliers, the values of the initial contracts amounted to about €125M, but the final value of contracts amounted to about €155M. Additionally, the new Alvalade was "built on land beside the old stadium, but the initial project was to have it built in the same location, a change that was made 'in clear contradiction'" with Lisbon city government and was not justified, unlike the "consequences which resulted in 'significant delays'" and a negative financial impact (LUSA, 6/28).
