Go, Poland! Stadiums construction will be financed from the budget

Warsaw (Puls Biznesu, 28.06.07) - The stadiums needed for EURO2012 will be financed by taxpayers. Four arenas for European championships will cost PLN 3 billion (EUR 794.3m). Not a single eurocent will be subsidized by EU, not a single zloty will come from public-private partnership programs. The budget is going to cover the costs. The budget, or the taxpayers. It’s not a problem to build the stadiums but to make them necessary when EURO2012 is over. If the state is to take care about it, the stadiums will not be crowded.

The four stadiums planned for European championship will cost PLN 3 billion, including PLN 1.25 billion for the national sports center in Warsaw.

“Polish arenas for EURO2012 will be built without EU funds”, Anna Siejda from the Ministry of Regional Development said.

Rafal Dutkiewicz, Wroclaw president, believes that private business will not want to invest in the stadiums.

“I’m almost sure they will be financed from public funds. There’s no time to do it in any other way. According to UEFA requirements, we must be ready in 2010 and not 2012”, Rafal Dutkiewicz said.

Poznan and Gdansk have some hopes, however.

“We have known from the beginning that the central budget would cover the costs of the stadiums. But it’s not difficult to build something. It’s difficult to make it useful and profitable later on. Local authorities are not able to do this. We hope the business will”, Maciej Frankiewicz, Poznan deputy CEO said.

Poznan would like a private company to operate the stadium for, let’s say, 20 years, and partly invest in the project. Gdansk authorities on the other hand hope that nearly 45-50 percent of the costs of building Baltic Arena (PLN 670m) will be covered by private investors who in turn will receive attractive lots nearby the stadium or in other parts of the city. Gdansk considers issuing bonds to build the stadium.

(PLN 1 = EUR 0.265)

Source: pulsbiznesu.pl