Brazil ´can afford´ World Cup, Olympics: Lula

Brazil is financially well-equipped to stage the 2014 football World Cup as well as the 2016 Olympic Games, President Luiz Inacio Lula da Silva said on Friday.

“We meet all the requirements for the World Cup but we want more – we also want the 2016 Olympic Games, Lula said in an interview with Sao Paolo’s Radio Globo.

The president promised 80 billion Reales (29.7 billion euros) would be available to fund the 2014 World Cup which world football body FIFA awarded to Brazil two years ago.

The radio station has carried out a survey of 12 Brazilian cities which would be involved in the soccer tournament, estimating stadium infrastructure and other essential facilities would add up to at least 80 billion.

“Obviously we would not want to organize the World Cup if we have did not have the money,” added the President.

The International Olympic Committee is to make a final decision on October 2 about the location of the 2016 Olympics, with Rio de Janeiro, Madrid, Tokyo and Chicago in the running.