Construction delays, safety concerns and financial troubles are among the various obstacles Brazil faces as it prepares to host the World Cup in 2014.
Most recently, the construction of the Itaquerão stadium in São Paulo -- where the Cup’s opening match is set to take place in June 2014 -- has hit a snag over financing after failing to receive a $202 million loan from Brazil’s state-run banks.
"There's a risk of work stopping or [the stadium] not being ready on time," said Andres Sanchez, the former president of the Brazilian soccer club Corinthians, which has been financing construction of the $400 million Itaquerão stadium along with Brazilian conglomerate Odebrecht, Reuters reports.
Sanchez has been serving as the unofficial spokesman for the project in recent months, keeping the project in the media spotlight and demanding that the government banks issue the loan under less stringent terms.
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