Brazil World Cup grounds up for sale following cash flow problems

first_img Brazils World Cup stadium in Natal is up for sale as the company that owns it is suffering from cash flow problems following a corruption scandal.Natals Dunas arena is being sold by owner Grupo OAS, with the company also trying to sell the 50% share it owns of the Fonte Nova arena in Salvador.The company has struggled for months with the impact of a corruption investigation at state-controlled oil company Petrobras, which undercut the builders access to financing.An economic downturn, government austerity and a slumping currency has also taken its toll, leading to Grupo OAS to announce it is selling its stakes in football venues and other businesses to focus on the core construction business.OAS spent $187m (£126.2m) on completely rebuilding the old Fonte Nova arena in Salvador and $134m on the new Dunas arena. The Fonte Nova hosted six games in the 2014 tournament and the Dunas arena four.The announcement was the latest in a string of bad news for Brazilian football post-World Cup.Earlier this week Esporte Club Bahia, one of the biggest clubs in Salvador, said they were abandoning plans to use the Fonte Nova because they felt the owners did not respect their fans. Closelast_img read more

Police leaving no stones unturned to ensure safe IDay

first_imgKolkata: The police is taking all necessary steps to avoid any untoward incident during the Independence Day parade to be held at Red Road on Wednesday.Chief Minister Mamata Banerjee will be hoisting the national flag at Red Road. She will also be given guard-of-honour. The programme at Red Road is scheduled to start at 10 am and it will continue till around 11.30 am. The Chief Minister will also be giving out police medals in the same programme.The parade will begin with a tableau of Safe Drive Save Life and subsequently participants from Kolkata Police, West Bengal Police, school children and tableaus of different departments will be passing one after the other. Around 980 children of different schools will be performing in the parade. Also Read – Rain batters Kolkata, cripples normal life”The Winners”, a special all-women patrolling team of the city police to combat and prevent incidents of molestation and eve-teasing in the city, will also be participating in the Independence Day parade. A team of women officers of the Rapid Action Force (RAF) will also be taking part in the parade. This will be the first time for the Mounted Police unit taking part in it.There will be tableaus on the projects including Rupashree, Kanyashree, Sabujshree, Khadya Sathi, and Sabujsathi. Besides the tableau of the Youth Services and Sports department with the theme of ‘Football’, there will also be a tableau of the Information and Cultural Affairs department based on the theme of ‘Sampriti’. Flowers will be sprinkled from helicopter at the time of the parade.Kolkata Police has tightened the security arrangements to avoid any untoward incident during the parade. An additional 1,500 policemen will be deployed and at the same time, there will be close monitoring from watchtowers. As many as 10 watchtowers have been erected around Red Road. Three Quick Response Teams (QRTs) will be deployed and there will also be six mobile patrolling units.last_img read more