Three agencies come forward to manage Maracanã

Article posted by Coliseum, April 5^th, 2019

Image: MJR Group Ltd.

A consortium of three agencies comprising Bravo Live, Goldean Goal and Time For Fun have submitted a proposal to the state government of Rio de Janeiro to manage the iconic Maracanã stadium for a period of 180 days, the Maquina do Esporte website reported.

After the state government of Rio de Janeiro announced the termination of the contract with Odebrecht for the administration of Maracanã , a group of three agencies officially showed interest in the management of the stadium, in the mission to rescue “one of the most important cultural heritage” in Brazil, according to the report that cited a joint statement sent by companies.

The group is formed by Bravo Live, Golden Goal and Time For Fun. The three companies offered to give advice to the state government of Rio de Janeiro until a new bidding process. The companies would give direction to the stadium so that it becomes financially more profitable, the report said.

Apply for membership

The three companies also stressed that they would like to join the Rio clubs in the management of Maracanã. State teams, which have been struggling with current high rates to play in the arena, would enter the business as partners.

Bravo Live currently manages São Paulo’s Allianz Parque stadium, home of Palmeiras. Golden Goal has been involved with the Maracanã in the past through work with Flamengo and Fluminense, while Time for Fun specialises in the entertainment market across Latin America.

Earlier in March, the state government in Rio announced that it had annulled a contract with the stadium’s private administrators, allowing it to regain control of the facility. In a statement published at the time, the government said the state is owed around $9.8 million by Maracanã SA, which is led by the Odebrecht conglomerate.

Odebrecht has become embroiled in Brazil’s Operation Car Wash corruption investigation, leading to the arrest of its chief executive and other senior officials. Maracanã SA’s contract with the government was subsequently investigated by Rio’s state legislature, which led to last month’s announcement.

Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.

Coliseum facilitates a dialogue between stadiums, arenas, clubs, leagues and experts and enables them to learn from each other while establishing relationships. Coliseum’s digital 365Coliseum Business Center is a vast pool of resource for the stadium and arena industry world-wide.

Watch 250 member-exclusive videos with valuable tips for your venue