Friday 21 July 2017

The cost overruns on Russia’s World Cup stadiums are staggering

FROM a boat cruising past the south bank of the Neva in St Petersburg, passing the baroque facades of the Winter Palace and the gilded dome of St Isaac’s cathedral, it can seem as if the 19th century never ended in Russia. But turn to the river’s north side and you will see something much more futuristic: Krestovsky stadium, a Japanese-designed football arena nicknamed “the spaceship”. In June and July the newly opened stadium hosted several matches of the Confederations Cup, a second-tier tournament, meant to serve as a dress rehearsal for Russia’s hosting of the FIFA World Cup next year (and, unavoidably, won by Germany’s B team). Russians are hoping the competition itself works out better than the preparations. Krestovsky stadium was completed eight years behind schedule and 540% over budget.

The scandals that have plagued the project since construction started in 2007 have made it a symbol of the corruption in Vladimir Putin’s Russia. A former vice-governor of...Continue reading

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