Thursday, November 22, 2007

2010 World Cup costs skyrocket


The 2010 World Cup will be the first held in Africa

The price of staging the 2010 World Cup in South Africa could cost 20% more than originally estimated.

The South African government said that US$500m more will be needed to host the tournament than originally thought.

"Current projections suggest we might be facing an escalation of cost," deputy finance minister Jabu Moleketi announced in Pretoria.

Moleketi said the government would work out how to finance the shortfall after a detailed cost calculation next month.

"We have dispatched all our technical teams to look into the projected escalation and put in extra capacity to interrogate on the spot the nature of the problem," he added.

The government has so far made available a budget of US$2.5 billion for the World Cup.

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