Sepp Blatter explained his decision to cancel 2022 World Cup in Qatar ” there will soon be no Qatar”. He added that there would be no refund. Opening a new bidding round, he suggested the main criteria would be:
a) willingness to waste billions of citizens’ money on white elephant buildings
b) ability to be discreet in greasing palms of FIFA officials
c) tendency to allow Multinationals to fleece your treasury in hugely inflated contracts.
As an example, he pointed to the London 2012 Olympics to show it as a prime example of how to waste money: How marvellous that they have taken a £3bn bid and stretched that to £12bn in contracts & spend.”
Blatter thought it ingenious that a publicly owned Olympic stadium costing £500M of our money was now handed over to a Football club owned by two multimillionaires for free.
The icing on the Olympic cake was Newham Countil (one of the poorest in the country) underwriting a loan of £40M too, just as it announced £50M worth of cuts to council services.
Alice would have felt at home in this Wonderland called free-market economics.