Brazil to Spend Record $600 Million to Boost Olympic Medal Hopes
By Tariq Panja
Brazil’s Olympic Committee will spend a record $600 million in an attempt to secure a top 10 medals ranking when the Summer Games take place in Rio de Janeiro in 2016.
Through a combination of public and private funding, the country will prepare 400 athletes with the aim of as many as 30 medals, 13 more than the the team achieved at London 2012. For that event, Brazil, which was joint 14th place on the total medals ranking, spent $350 million. It was 22nd in gold medals.
Hosting duties gives Brazil responsibility to outperform its previous records, said Marcus Vinicius, director of sport at Brazil’s Olympic Committee…