The 12 stadiums of the 2014 World Cup in Brazil

The construction of seven stadiums and the renovation of five represent an investment of 8.4bn reais (€2.7bn) for Brazil, host of the 20^th World Cup from 12/06 to 13/07/2014.

The Brazilian government has largely financed the modernisation of the stadiums; 90% of the money spent comes from various government agencies. The BNDES (National Bank for Economic and Social Development), a manager of government investments, lent 3.609bn reais (€1.196bn) to various bodies that were charged with building the stadiums. "At the World Cup, we want perfection; excellence is why we work. Why do we want excellence? Because there are league matches every week, while the World Cup is only once every four years," Jérôme Valcke, secretary general of FIFA (Fédération Internationale de Football Association), told News Tank on 12/05/2014.

This massive outlay raises the question of return on investment. Only six of 12 stadiums hosting the World Cup will welcome at least one Brazilian Serie A club in 2014. The average capacity of stadiums built or renovated for the World Cup is 52,656 seats, which is 3.5…