Ever since the 2010 FIFA World Cup was awarded to South Africa, FIFA officials have had to dismiss suggestion that the country's facilities would not be ready to host the event. Those suggestions are sure to get larger now.According to Matt Scott of The Guardian, FIFA is building an $800 million contingency fund against the possible collapse of the 2010 World Cup. The reason? Insurance companies don't want to back the event. A spokesman for German insurance firm Munich Re went so far as to say that the grounds in South Africa are too run down to host the event and that there are serious concerns about security, transportation and the nation's political climate.
FIFA president Sepp Blatter has suggested in the past that the 2010 World Cup would only be moved in the event of a natural disaster and that the facilities would be ready. I suppose we'll find out how ready they are by 2009, when South Africa is scheduled to host the Confederations Cup. That competition is considered by many to be a litmus test for South Africa's World Cup preparedness. If something goes wrong there, the negative buzz surrounding the next World Cup will only get louder.
