Philippines: Financial problems at the country's most modern facility
source: gmanetwork.com; author: Maciek Ściłba
Not long ago, the Philippines co-hosted the 2023 FIBA Basketball World Cup. The government can be proud of three huge and modern indoor arenas. However, the situation with stadiums is much worse. Unfortunately, in this case, there are reasons to be worried.
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The country, located in an archipelago of islands in the Pacific Ocean, is the 12th most populous country globally. The Philippines has never succeeded in the world's most popular team sports. Still, with its gigantic human potential and ever-expanding economy, the government hopes this will come soon. One thing that brings the country closer to this goal is the development of sports infrastructure.
In addition to the previously mentioned indoor arenas, the country's authorities still remember the stadiums. Proof of this is the construction of the modern New Clark City Athletics Stadium in Capas. With a capacity of 20,000, the arena is far more impressive than the run-down Rizal Memorial Stadium in Manila. The country's national football team uses this facility, which remains the same. Fans are not particularly bothered by this turn of events. They have the added benefit of engaging in online betting in the Philippines via GCash, a popular and exciting option for supporting their national teams in matches. This platform is considered one of the best for placing bets on local sports events.
© Patrick Roque (CC BY-SA 3.0) | Rizal Memorial Stadium
New Clark City Athletics Stadium is owned and operated by the Bases Conversion and Development Authority (BCDA). The state-owned corporation worked with the Commission on Audit (COA). They reported spending over 51 million Philippine pesos (€840,000) to maintain the arena last year. This represents a deficit of 11 million Philippine pesos (€181,000). This spending might seem small by European standards. But in the Philippines, where every penny is important, it's a big problem.
The deficit was estimated to be around 2.5 million pesos (€41,000), which did not include catering expenses. Only when the COA looked into the matter did it confirm that the deficit was more extensive than expected. The regulator doubts the facility's daily earnings will cover its upkeep and pay back the 2018-2019 investment. The COA says the Philippine government must cover any shortfall. This could mean moving funds from other areas to support sports infrastructure.
In summary, the Philippines aims to excel in popular sports. Building new sports facilities like the New Clark City Athletics Stadium is a big step. But, keeping these places running is costly. The state reports high expenses for the stadium, a challenging issue for the country's budget. The government might need to use money from other areas for sports. This shows the challenge of growing sports while managing money wisely. Still, the excitement for sports and online betting offers the country's love for its teams.
© Oliver Marquez, Philippine News Agency | New Clark City Stadium
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