Bloomberg reports that a budget being announced this week is expected to require local authorities to produce more cost-savings. Augusto Mateus, a former economy minister, and Ulissis Pereira of the city of Aveiro, one of the Euro 2004 venues, have said cities must consider demolishing the stadia built or refurbished to host the 2004 event.
“It’s very difficult to service debt on something that doesn’t create wealth or represent a public good,” said Mateus.
Joao Cesar das Neves, an economics professor at Lisbon’s Catholic University, went further, and said the stadia, which now are as much as three-quarters empty for local football matches, were a symbol of wasteful spending.
Among the stadia which local authorities are struggling to support are the $94 million, 30,000-seat home stadium of second-tier team Beira Mar in Aveiro, top-tier team Uniao de Leiria’s $120 million stadium, and lower-league teams Farense and Louletano’s shared $61 million stadium.
