The financing and management of Euro 2012 arenas

Mathew Bornah

MPRA Paper from University Library of Munich, Germany

Abstract: Until recently, most mega sports events were held by wealthy industrialised countries. Because of the high costs involved in the preparation of such projects, insufficiently developed sports and other infrastructure and the absence of appropriate legal basis, hosting such events was beyond the reach of developing countries. The beginning of the 21st century brought significant changes in this respect. On the one hand, countries with relatively weaker economies, aware of the benefits involved, submitted their bids more readily. On the other hand, institutions responsible for the selection of the host country began to promote less wealthy countries or those in the process of economic transformation, in order to provide a stimulus for development. Within less than a decade there have been a number of examples of sporting event hosts that confirmed the current trend, such as: Euro 2004 in Portugal, 2008 Olympic Games in Beijing, the decision concerning the staging of the FIFA World Cup in 2010 or, finally, Euro 2012 in Poland and Ukraine. The different approaches to stadium management adopted by the individual cities have been presented in this paper. In this respect particular importance was attached to the sources of income that will enable maintenance of these venues and pay off the enormous debt incurred by the cities in connection with their preparation.

Keywords: Euro 2012; Football stadiums (search for similar items in EconPapers)
JEL-codes: G38 (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-cfn and nep-spo
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