Most expensive ever: Putin to spend $20 billion on 2018 World Cup in Russia

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One of the VIP guests invited to the 2014 World Cup final in Rio de Janeiro on Sunday is already planning for the next tournament in Russia four years from now.

Big time.

Russian President Vladimir Putin, who will attend the final by invitation along with many other leading politicians, is ready to splash some serious cash when it comes to hosting the World Cup for the first-time in his nations history. Putin and members of the Kremlin are planning to spend over $20 BILLION on hosting the showpiece event, as costs for new stadiums, infrastructure and transport links will be hefty. Putin will be up for reelection in 2018 and could see hosting the World Cup as a great tool to rally public support behind him.

The latest report comes from NBCNews.com, as Putin aims to make the 2018 tournament the most-expensive and extravagant World Cup in history.

“Russian President Vladimir Putin reportedly plans to spend $20 billion on Russia’s hosting of the 2018 competition. His ambitious plan will see stadiums and infrastructure built over an area stretching 1,500 miles from the Baltic Sea in the west to the Ural Mountains that form the gateway to Asia. The event is expected to follow the economic blueprint of this year’s Sochi Winter Games – the most expensive Olympics in history with estimated overall price tag of $51 billion.”

Putting the reported budget for the 2018 tournament into context, the 2014 World Cup in Brazil reportedly cost over $14 billion, while South Africa 2010 came in at $3.9 billion. That means the money Russia will spending on the 2018 World Cup is five-times the amount that was spent in South Africa. Wowza.

The 2014 Winter Olympics in Sochi were deemed a success in Russia, as Putin spent an incredible $51 billion on the event to make it the most expensive Olympics in history. The event was safe, delivered what was expected but now Sochi has no need for the stadiums, hotels and other infrastructure built for the games. In the bigger cities like Moscow and St. Petersburg, improving soccer stadiums and transport will prove beneficial, but in some of the more remote World Cup cities in Russia spending is badly needed on other things. Will “White Elephants” be left behind all over Russia when the tournament has finished? Or will the Russian people benefit from this monumental expenditure on World Cup stadiums and facilities?

That remains to be seen. Putin’s plans may be grand, but they should improve the country for the long-term, not just dazzle during a World Cup, then dissolve into dereliction.