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Volume 10 No. 23
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Brazilian Government Will Make Another Attempt To Sell Olympic Facilities

Brazil will "try once more to rid itself of part of Rio de Janeiro’s Olympic Park," after the city's government failed to find a buyer last year, two people directly involved in the negotiations said, according to Simone Preissler Iglesias of BLOOMBERG. Multi-sport arenas 1, 2 and 3, the velodrome, the tennis center and the car park will be included in the government's Investment Partnership Program, the sources said. The government "hopes to finish the sale by the end of next year." So far this year, the maintenance of the Olympic Park has cost the government R$45N ($14.3M). In an effort to find an operator for the park, the ministry of sport will work with state development bank BNDES "to determine how the concession will be run" (BLOOMBERG, 8/22).