Financial worries for 2002 World Cup
Wednesday, 28 March 2001 13:21The 2002 World Cup has had its budget slashed by $22 million due to Japan's current economic slump. The draft budget for the games had initially totalled 63.4 billion yen ($519 million) when compiled last year, but ailing Japanese finances have led to a reduction to 60.7 billion yen.
According to the Asahi Shimbun daily, the crisis has been worsened by the news that the Japan Federation of Economic Organisations is now unlikely to donate 2.5 billion yen as was expected. "We need funding to avoid running the event in red ink," admitted a spokesman for JAWOC, the Japanese organising committee.
He said that the 10 municipalities which will host the matches have each been asked to donate 100 million yen to the budget as donations from other groups were less than expected. The request for money is likely to further increase tension, as the 10 indebted municipalities had already been asked for a similar sum three months ago.
"Some local governments may say 'why again?', but we think they will all agree to pay in the end," stated the spokesman. He conceded that further changes might occur depending on the Japan's future economic performance. The new draft budget is expected to be approved shortly by JAWOC. (Reuters)
Filed by Shane Stokes
