New report on the 2018 World Cup
According to Íslandsbanki's new report on the financial side of the 2018 World Cup in Russia, stadium construction is 150% over budget in rubles. The total cost will be over USD 12bn and the Russian government will spend USD 200m on keeping stadiums open after the tournament, since they are far too large for Russian football.
The international football federation FIFA will receive an estimated USD 5.4bn in revenue but Russia will have to trust in future growth in tourism and a more positive international image.
The report was presented at a meeting at Íslandsbanki's headquarters were the editor Björn Berg Gunnarsson was joined by former Iceland captain Hermann Hreiðarsson and commentator Guðmundur Benediktsson.