Atanasio Girardot Stadium

Metropolitano of Barranquilla Stadium

1. Financial information about your location/facility.

1. The final construction costs. Was the installation within budget or was there something
peculiar about the final costs?

The Stadium Atanasio Girardot began its plans in 1946 and ended its contrition in
1953. The total cost was USD 10,500,000.
In no search could I find that there was an extra cost on the installation since this stadium
was made more than 70 years ago. What I did find is that in their remodeling during their
time if they have had budget problems and over costs.

2. A breakdown of each specific financing mechanism (e.g., percentage or total amount of

private financing, bonds, taxes, etc.). What does this funding mean? Don't just list the
funding, actually explain that source of funding.
There are several financing mechanisms that are used for the construction of a new
facility. These are some of the mechanisms used:

Private funding: The first refers to private entities or foundations that decide to help finance
a project under construction. This goes a long way in as much of the cost is drawn from
these funds.

Bonds: Bonds are types of facility-price debt financing that is based on selling securities to
investors in exchange for debt or interest being paid from the opening date.

Taxes: A facility can be financed on a tax basis since these are intended for cats of this
type.

Government subsidies: State entities are often seen to use their budget to finance the cost of
facilities for the benefit of the public.

3. The reforms that have been made in the stadium in recent years. How much did the
renovations cost, what did they achieve, and how were they funded?
In 1990 a remodeling was made that was the extension of the facility so that it could
accommodate more fans. This remodeling does not talk about the total price paid by the
city but it was done to host events of international stature since many times when they
played the local teams could not play in the stadium since they did not meet the required
number of fans. The stadium had 32,000 seats and required more than 35,000. When this
refurbishment was done, the stadium moved to a capacity of 54,000 seats for fans of local
teams.

In 2011 the last remodeling of the facility was made to host the World Underworld
Championship. In this remodeling there is no talk of how much was the total price of the
remodeling what if it is said was that much of the financing money for the stadium came
from FIFA and the Colombian football federation since they were to host the 2011 World
Cup in Colombia. This refurbishment did not change the capacity much but it did make the
stadium much more modern and helped create a much safer stadium with FIFA rules.

Now in 2023 the next remodeling will be carried out that will make the Atanasio stadium
much more luxurious and with several sites so that fans and tourists have more interaction
with the local team.
This remodeling will be financed through local merchants and by the mayor of the city of
Medellín.
There has been a lot of talk about the cost overruns of this remodeling since they are talking
about many more workers than necessary. The investment is planned to more than 170
million dollars.

References:

https://www.eltiempo.com/amp/ file/document/MAM-180355
https://m.elcolombiano.com/ antioquia/por-remodelacion-del-atanasio-girardot-sacarian-a-
los-comerciantes-KA20466963

2. Find an installation similar to your installation. For example, if your venue is an arena
that hosts an NBA team, choose another arena that hosts another team. Compare and
contrast each installation.

1. What were the final construction costs of the other facility and how was it
financed? Explain the funding mechanisms for this second facility, similar to what
you did in question 1 for your facility.
The metropolitan stadium of Barranquilla had a cost of $ 1,500,000,000 of the local
currency that is the Colombian pesos. Converted into $50,000,000 at the time. This stadium
opened doors in 1986 before the World Cup in Mexico and the Colombian team needed a
venue to play the qualification for the World Cup and there began the construction of the
stadium.
This stadium was financed by government entities such as the state of Atlatico which is an
area of the Caribbean part of Colombia. In addition, the Colombian soccer federation got
private sponsors who helped finance the stadium.

2. Which facility was funded more "fiscally responsible" from the team's
perspective? Discuss your reasoning and how you determined what is fiscally
responsible in context.
Both were financed in a legally and fiscally responsible way but I would say that the
metropolitan stadium had more government control since at the time of the 1950s there was
not much control over where the money for the construction of the facility came from and
more when talking about sports venues in Colombia.
At the time the metropolitan was built there is much more information about construction
costs plus remodeling and reveal exact cost figures. When I tried to look for data about the
Atanasio Girardot stadium you could see that there was not much information about figures
and I feel that there was not much detail of the costs at that time.

3. Which facility was funded most "fiscally responsible" from a city/local taxpayer
perspective? Discuss your reasoning and how you determined what is fiscally
responsible in context.
The Metropolitan Stadium of Barranquilla was financed more fiscally responsible. Since
this stadium was built with the help of the federation of the country. In 1980 there was
more interest in soccer and knew the financing protocols and more that it was to be the
headquarters of the Colombian national team. At the time of 1950 in which the Atanasio
Girardot stadium was built, there was not much fiscal control. In addition, that area of
Colombia was facing several problems due to drug trafficking and the money that was seen
in the area could come from strange origins. Nothing has been proven so far about illicit
money for the financing of construction but not much data is obtained on how it was
financed.

References
https://www.tripadvisor.com/LocationPhotoDirectLink-g297473-d4783135-i224112215-
Estadio_Metropolitano_Roberto_Melendez-Barranquilla_Atlantico_Department.html
https://www.eltiempo.com/archivo/documento/CMS-16588989