The expected budget of coming Brazil 2014 World cup is around $13.6 billion and it is a known fact that Brazil is shaking all the way to provide world class infrastructure facilities amid high rising costs and internal problems over there, perhaps many of WC venues are still not ready and bypassed their due deadlines. American rating agency Standard & Poor has now warned about 2018 world cup being hosted by Russia, it said that most of the cities where matches are scheduled to play are going to face financial crunches coz of mounting cost they are going to incur. Reportedly, there are 11 cities where WC matches will be played and out of them only four are capable to raise the required funds while other seven are already struggling in arranging the money. Perhaps, it has become more critical after Russian federal government has narrowed its grant for the upcoming world cup in Russia. According to the roadmap, most of the funding will be spent in providing better transport by making new roads, infrastructure work, and better hospitality around each of the WC venues. While, second biggest cost head is the stadiums renovation work which requires a massive amount and time to complete.
As per an early estimate, total expected budget for 2018 WC is around $22 billion, which is significantly higher than current world cup, and taking a cost escalation, it would surely be more than $30 billion, so S&P’s warning looks justified with their supported facts.
Recently, UEFA’s President Michel Platini met with Russian president Vladimir Putin and discussed about the groundwork going on in the host cities. Platini open heartedly praised the work in progress and the speed at which everything is going ahead over there, he said, “Honestly speaking, it would have been much more interesting to see the stadiums being built for the World Cup. In any case, I can state that the work is going ahead.” He also admired Russian soccer team performance in world cup qualifier for which president retuned him the favor by thanks.
S&P especially asked Russian government to step in and make it sure that work does not halted by lack of money otherwise; things would more be horrified than what we are seeing in Brazil. So, it looks like there is something seriously missing from WC 2018 and that is money of course, and we expect Fed Government will provide much needed monetary help as it did for 2014 Sochi Olympics.