Qatar asks FIFA to cut stadium number

Qatar asks FIFA to cut stadium number

Qatar asks FIFA to cut stadium number

Qatar has asked to FIFA to reduce the number of stadiums from 12 to nine for 2022 FIFA World Cup. AFP photo

Qatar could diminish the number of the planned 12 stadiums to nine for 2022 FIFA World Cup as costs raise, according to a statement by Bank of America Merrill Lynch.

The oil-rich Gulf nation asked FIFA, football’s world governing body, to cut the number of stadiums from 12 to eight or nine amid rising costs, the United States bank said in a statement to investors, as reported by Bloomberg.

“We are fully committed to delivering on the commitments we made to FIFA,” Yasir Al Jamal, technical director of the organizing committee, said in a statement. “The requirement is a minimum of eight and a maximum of 12 stadiums. We are currently working on delivering our first five stadiums,” he said.

Qatar agreed to spend around $65 billion on infrastructure to host 2022 FIFA World Cup, but the plan includes building stadiums equipped with solar-powered air conditioning, more than doubling hotel and apartment rooms and constructing a $25 billion rail and metro network, the report said.

However, Bank of America Merrill Lynch head of emerging market fixed income strategy Alberto Ades said the total cost for infrastructure for the World Cup would likely exceed the bank’s initial estimate of $95 billion.

“The process of selecting the final proposed line-up of host venues is in process,” FIFA said in an e-mail. Qatar will submit a list of many as 12 stadiums to the FIFA executive committee for approval, the sports organization said.

“We are in constant communication with FIFA on to how best fulfill our bid commitments and implement our unique, compact hosting concept for the 2022 FIFA World Cup in Qatar,” Al Jamal said.

Qatar beat out the U.S., Japan and Australia three years ago for the rights to the World Cup 2022.