PRAGUE, April 23 (Xinhua) -- After the Prague City Hall refused to guarantee the organization of Euro 2020 on Tuesday, Czech Football Association (FACR) has definitively given up its candidacy for co-hosting the European 2020 soccer championship in Prague.
As the Prague Municipality fears that it would have to cover the costs for organization of the tournament in the city in case of any problems occurred, it did not sign the guarantee agreement with the UEFA and the FACR.
Prague councillor Lukas Manhart said the project has not been prepared well and nobody held official talks about it with the city representatives in the past three months. This view, however, was refused by FACR.
"Our association has done its utmost to provide all necessary documents and financial guarantees related to the bid that could have been successful. The project has been complete and it has not involved any pledge to provide financial guarantees for the reconstruction of the stadium on the part of the state or the City Hall," said FACR chairman Miroslav Pelta.
"The last thing necessary for the completion of our candidacy was just the host city agreement," said Pelta with the fact that the nomination will no longer be pursued.
The Czech government refused to provide a three-billion-crown (150 million U.S.dollars) state guarantee for building a new stadium in Prague-Strahov in March. Pelta then proposed to hold the championship at Slavia Praha football club's home - the Eden stadium. But the stadium would have to be reconstructed to meet UEFA's capacity requirement of 35,000 seats, and the costs of such a reconstruction were estimated at one billion crowns.
Ivo Sekerka, who was responsible for the Euro 2020 bid in the FACR, said a renown international insurance firm provided the financial guarantees. But Councillor Manhart said that he just got an email from a British company which "declares will" ensure the money.
"This is not an actual guarantee," He said. Manhart said if the FACR failed to find the required money to increase the stadium's capacity, the City Hall would have to pay the cost.
The Euro 2020 will be played in 13 cities, each from a different UEFA member. The deadline for lodging the applications to the UEFA is April 25.