Brazilian engineering group Odebrecht has been given permission to sell off the concession to operate the Maracanã stadium in Rio de Janeiro.
In 2013, Odebrecht was awarded a 35-year public-private partnership (PPP) to run the venue, which has a capacity of just under 79,000.
According to Brazilian local newspaper O Globo, a consortium of CSM, GL, and Amsterdam Arenas is believed to be the frontrunner in the race to take charge of the stadium, while a group comprising Lagardère and BWA has also expressed an interest. Both groups have been given permission to bid.
The new concession holder will be required to pay an annual fee of $1.7m (€1.6m/£1.3m), as well as a fee of between $12m to $18m in order to transfer ownership of the concession.
The overall investment is expected to be up to $180m, with the winning party also set to operate the Maracanãzinho, an arena that lies adjacent to the Maracanã.
Odebrecht is evaluating each group’s stadium management experience, amount of capital available and the business plans, with a decision expected in the first quarter of next year.
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