The legendary Maracanã Stadium has been put up for sale by the government of the state of Rio de Janeiro. The decision comes amid an urgent need to raise funds for the state treasury. Among the assets listed for sale is the iconic stadium that hosts two of Brazil’s most successful clubs — Flamengo and Fluminense.

A football temple valued at €320 million?

The Constitutional and Justice Committee of the Rio de Janeiro State Assembly (ALERJ) amended the government’s proposed bill. Of the 48 properties initially slated for sale, 16 were removed and 30 new ones added — including the world-famous Maracanã, regarded as one of football’s most sacred sites. News of the stadium’s possible sale sparked outrage in Rio. Fans and residents quickly voiced their opposition to what they see as an attack on a national monument.

Committee chairman Rodrigo Amorim defended the move, arguing that the state must cut spending on costly or underused facilities. Maintaining the Maracanã, he admitted, costs a fortune — around €160,000 per match. Amorim estimated that selling the stadium and the adjacent Aldeia Maracanã complex could bring in around €320 million, though the final price will depend on market conditions. He added that the goal is not only to generate revenue, but also to avoid further maintenance expenses and find a more sustainable use for the facility.

The proposal will be put to a full assembly vote in the coming weeks. The state of Rio de Janeiro currently owes the federal government around €1.89 billion, which must be repaid by 2026 under a debt restructuring plan.

© Copa2014.gov.br

Years in the making

Even if approved, the sale would face serious legal and contractual obstacles. The Maracanã is under concession until 2044, managed by the Fla-Flu consortium (Flamengo and Fluminense). Both clubs have already stated they intend to honor the agreement until it expires.

It’s not the first time the stadium has been on the market. Back in 2011, billionaire Eike Batista tried to buy it ahead of the 2014 World Cup and the 2016 Olympic Games. The plan never materialized, and ever since, any talk of privatizing the Maracanã has been met with strong controversy across Brazil.

© Jonas Pereira, EMOP