Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
South Africa Adds $193 million To World Cup Budget
Bloomberg News, October 21st, 2008 1:45PM

MOST READ

MOST COMMENTED

The South African government has allocated an extra 1.4 billion rand ($136 million) to stadiums for the 2010 World Cup to meet higher building costs, and a further 600 million rand ($57 million) to provide internet access to the stadiums, report Mike Cohen and Nasreen Seria.

"The 2010 FIFA World Cup preparations remain on course, though costs have escalated beyond the initial budget," the National Treasury said in its mid-term budget released in Cape Town Tuesday. "Government will provide funding to accommodate part of the cost overruns, with municipalities to share this burden."

The additional money brings the total direct cost of hosting the tournament to 28 billion rand (almost $2.7 billion). The event will boost gross domestic product by about 1 percent and attract 450,000 non-African visitors, the Treasury has estimated. But labor unions say money being spent on stadiums would have been better spent on building houses and fighting poverty.

The government's cost estimate of hosting the tournament has almost doubled in two years, but Malcolm Simpson, a deputy director-general at the National Treasury, said the latest figure reflects the cost of additional infrastructure and improving security.

Read the original story...



No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Legia Loses CAS Appeal     
Legia Warsaw has said it will sack the administrator blamed for the clerical error that resulted ...
Report: BVB's Sponsors to Buy Stakes     
Borussia Dortmund on Thursday announced that the club would issue up to 24.5 million shares in ...
Simeone: Atletico Can't Compete with Real, Barca    
In an interview with La Gazzetta dello Sport, Atltico Madrid coach Diego Simeone emphasized that despite ...
Dzeko Signs Four-Year Man City Contract     
Manchester City striker Edin Dzeko on Thursday signed a new four-year deal with the defending Premier ...
FA Investigates Mackay, Moody     
Crystal Palace sporting director Iain Moody resigned on Thursday as the English FA opened an investigation ...
Poyet: 'I've Never Seen Jozy as Happy as Now'    
Gus Poyet, speaking ahead of Sunderland's home clash against Manchester United this weekend, says that USA ...
Ronaldo Fit for Super Cup; Di Maria, Khedira Futures Uncertain    
Real Madrid coach Carlo Ancelotti on Thursday confirmed that Cristiano Ronaldo is fit enough to start ...
Balotelli to Join Liverpool     
AC Milan on Thursday confirmed that striker Mario Balotelli has said goodbye to the club's teammates ...
Report: Mackay Out of Palace Running    
Malky Mackay, who was considered a shoo-in for the vacant Crystal Palace job, is no longer ...
UEFA Investigates Tavecchio Comments    
Italian soccer federation (FIGC) president Carlo Tavecchio is being investigated by UEFA over an alleged racist ...
>> Section 2 Around the Net Archives