The International  Club had to give part of the land of the Beira-Rio as collateral in loan operations BNDES (National Bank for Social Development) for its refurbishment. It is what is clear in the contracts signed by SPE (Special Purpose Company) Riverside with Banrisul Bank of Brazil banks and the development finance institution., according to UOL in Brazil.

The stadium’s reopening party was this weekend after a federal funding of £ 67,4 million to be included as host of games from the 2014 World Cup.

The stadium lit in red for the party

Beria Rio in festive mood, before the invoice arrives



In the three agreements between banks and the Beira-Rio SPE is written that one of the guarantees is “transfer to the BNDES, irrevocably and irreversibly, the real surface rights that will be built on the property subject to enrollment 6,258 (…) which will be installed the project.” There is a separate agreement establishing the alienation of this part of the stadium.

This means that if there is default on loan payments, banks may require part of the land of the Beira-Rio. And probably it also means more fuel for protests.

About Betise Assumpcao Head

Communicator, specialized in Media Relations, Reputation, Crisis Management, corporate or individual. I started as a Sports Journalist (7 years, Mains newspapers and magazines in Brazil) turned into World Wide Press Officer (Senna 1990/1994), been to Games in Barcelona Atlanta, London & Rio 2016. Italy, Germany & Brazilian World Cups.

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