Report: Construction on World Cup stadium in jeopardy
SAO PAULO, BRAZIL (MyFoxBoston.com) -- Construction on the host stadium for the 2014 World Cup in Brazil could be in trouble.
The Wall Street Journal reports Andres Sanchez, the former president of the Corinthians soccer team that owns the stadium in Sao Paulo, is threatening to shut down the project unless Brazil's National Bank for Economic and Social Development pays out more than $200 million of already approved loans.
Sanchez claims the team currently does not have enough funding to continue building the stadium, which will hold seating for 48,000 people.
The construction reportedly carries a $412 million price tag.