Court authorizes restart of São Paulo stadium tender
São Paulo city's audit court (TCM) authorized the restart of the process to award a concession for the Pacaembu sports complex, with certain conditions.
According to TCM, city hall must republish a notice regarding the concession and provide a new schedule for the process.
In August, TCM suspended Pacaembu's auction, planned for August 16, after it detected various irregularities in the rules. The 35-year concession was open to local and international investors and is expected to generate 400mn reais (US$96mn) for the city in investments, fees and taxes.
Despite the suspension, São Paulo received four proposals for the concession.
In 2017, Pacaembu posted revenue of 2.46mn reais.
Tendering the 40,000 capacity sports complex is part of São Paulo's plan to promote a series of concessions and privatizations to reduce costs.
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