Of the 34 venues, 18 are already
operational, eight will be redeveloped, seven will be temporary and nine will be constructed for permanent legacy
estimated that foreign investment for this year will climb to US$55bn (£33.9bn). So- cial progress is accompanying this growth too. From 2003 to 2009 some 30 million Brazilian citizens have risen to join the middle classes and similar numbers are expected to follow in the next few years. Gryner attributes some of Rio’s success
in winning the bid to new levels of co- operation between the federal, state and municipal governments in the country. “For many years Brazil was viewed to be in opposition to the central government so we suffered from a lack of invest- ment,” he explains. “However, thanks to this new-found relationship, many in- frastructure and social projects are now beginning to take shape.” Around US$15bn (£9.2bn) in fund-
ing – most from the federal government – means that close to 100 per cent of projects to improve infrastructure, par- ticularly in the transport sector, are now being undertaken in readiness for the Games. “This is the combina- tion of two budgets,” Gryner explains. “US$11.6bn (£7.1bn) for the sporting in- frastructure and US$2.8bn (£1.7bn) for the staging of the Games. According to Gryner, the amount of
sponsorship money raised would be capped at US$1.2bn (£74m), which would ensure that no additional finance would
Issue 2 2011 © cybertrek 2011
Staging the Games could inject US$51.1bn
(£31.5bn) into the region and add 120,000 jobs annually towards 2016
be needed from the government to run the event. He also stressed that this figure would not be surpassed because the or- ganisers “are not motivated by profits”. “Two deals involving top tier part-
ners in banking and telecommunications have already raised more than US$600m (£370m) so we still need to raise one- third of the target,” he says, adding that he would rather “reduce the number of sponsors to reduce clutter and make it better value for partners.” Admitting that the funding estimate
was indeed higher than those submitted by the other 2016 bidding nations, Gryner says the bidding committee was careful to include as many hidden extras as possi- ble in its original figures. “It was difficult to estimate the price of building materials when the bid’s budget was calculated in 2008,” he says. “But we’ve planned for in- flations along the way and added extras, such as the likely desire to paint the out- side of the airport as 2016 draws near.” Meanwhile, a Sao Paulo business
school for the Brazilian Sports Ministry
has projected that staging the Games could inject US$51.1bn (£31.5bn) into the region and add 120,000 jobs annually towards 2016.
Inspired bidding With Brazil having played host to the South American Games in 2002 and the Pan American Games in 2007, Gryner says winning the right to host the Olympic and Paralympic Games [not withstanding the additional accolade of hosting the FIFA World Cup in 2014] was the country’s biggest prize of all. Inspired by Barcelona’s urban trans-
formation when the Spanish city hosted the 1992 Games, Rio bid (unsuccessfully) to host the 2004 Games, then held back from the 2008 Games to learn from host- ing the Pan American Games, before focusing more intently on 2016. “Transformation became a buzz word
for us in the bidding process as hosting the Olympics offered the opportunity to ‘transform’ our sporting environment, our city and Brazil’s image worldwide.
Read Sports Management online
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