The history stage Maracana at Rio de Janeiro is to be put up for sale, according to a decision of the local government. The State of Rio aims to raise around €320m in order to reduce its significant public debt, a move that has sparked strong political and social backlash in Brazil.

The stadium, a symbol of Brazilian identity, where the matches of the Flamengo and Fluminense clubs are hosted, was included in the list for sale after a related bill was amended by the Constitution and Justice Committee of the Rio Legislative Assembly (ALERJ).

The committee removed 16 of the original 48 properties slated for sale and added 30 new ones, including the Maracanaprompting public outrage.

The chairman of the committee, Rodrigo Amorim, said that the State seeks to reduce the cost of maintaining its properties, pointing out that “the government spends around 160,000 euros per match to maintain the Maracana”.

He also estimated that the sale of the stadium and the neighboring “Aldeia Maracanã” complex could fetch more than 320 million euros, depending on market offers. He emphasized that the main goal is not only revenue, but also the avoidance of future costs due to the possible abandonment of the facilities, as well as their utilization in a more productive way.

The plan is expected to be put to a vote within the next few weeks. Rio State owes the federal government 1.89 billion euros, which must be repaid by 2026 as part of a debt restructuring program.

The question of his ownership Maracana has been raised in the past. In 2011, businessman Ike Batista had attempted to buy it, before the 2014 World Cup final and the 2016 Olympics, but the deal did not go through. The debate over the privatization of the stadium remains open and has divided Brazilian society for years.

The Maracana it has worldwide fame, mainly due to the historic “Maracanaso”, Brazil’s surprise defeat by Uruguay (1-2) in the final of the World Cup in 1950, in the presence of 173,850 spectators – a figure that, according to other sources, reached 199,854, the largest crowd ever recorded for a football match.

Today, the stadium has a capacity of 78,838 spectators, after three major renovations: in 1999/2000, when the standing seats were removed (103,000 seats), in 2005–2007 (88,000 seats) and in 2010–2013, ahead of the 2014 World Cup, which gave it its current form.