President acknowledges Brazil still not able to host World Cup

Brazilian president Luiz Inacio Lula da Silva said today that Brazil doesn't yet have what it takes to host the World Cup of soccer in 2014. According to Lula, the Brazilian organizing committee would need to receive full support from the Federal and State Governments to receive the necessary investments to build new stadia and improve the country's infrastructure.

"We currently don't have any stadium which meets FIFA's criteria to hold a World Cup game, and we'll need at least 12 for a competition of this magnitude," said the president, during an official ceremony in which he launched a sports lottery created to try to help solve team debts with the Federal Government. By hosting the event, the country could improve its international image and ultimately attract investments from abroad, argued Lula.

A final decision about the host country will be made in 2008. According to a rotating model developed by the world's soccer governing body, FIFA, the 2014 competition will be in the Americas. FIFA's president Joseph Blatter was recently quoted as saying he'd support a World Cup in Brazil, but only if the country invested billions in infra-structure.