Brazil has dropped Sao Paulo's Morumbi Stadium as a venue for the 2014 FIFA World Cup because the city failed to provide financial guarantees.

The deadline set by the Local Organizing Committee was 14 May 2010 so the decision earlier today has not come as a real shock.

A FIFA statement said: “The Committee of the Cidty of São Paulo sent recently to the LOC a sixth project, which will not be examined as it has been received long after the deadline.

“Therefore, the Cicero Pompeu Toledo Stadium, commonly known as Morumbi, is excluded from the 2014 FIFA World Cup.”

The 50-year-old Morumbi Stadium was scheduled for a $135 million refurbishment to create a 68,000-seater venue for the tournament in four years time.

The ground was picked to host group stage and second-round games as well as a semi-final, but the project had been plagued by delays and criticized by FIFA.

Brazil won the bid to host the FIFA 2014 World Cup in October 2007 after FIFA declared the race open only to South American countries.

As it turned out Brazil was the only candidate, although it already was a strong favourite even before Colombia pulled out several months before the final selection decision.

Posted on 16/06/2010