The upcoming World Cup is going to cost more than initially expected.
Russian authorities revealed the 2018 World Cup will cost $600 million more than previously planned, the Associated Press reported.
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According to the report, there was no immediate reason from organizers or the Russian government as to why the latest cost had risen so drastically to total $11.8 billion.
Per the AP:
Of that, 57.6 percent comes from the federal budget. There is another 13.6 percent from regional government budgets, with a further 28.8 percent from "legal entities," a category which can include both private and state-run companies.
FIFA previously set up a $100 million World Cup Legacy Fund for Brazil in January 2015 following the 2014 World Cup in Rio de Janiero after approximately $15 billion was spent to organize the event.
