The website Business Insider Australia is reporting that with less than 500 days until Rio de Janeiro hosts the Olympic Games, construction of several venues has not started and some major contracts have not even been tendered, setting the stage for a last-minute rush that will likely drive up costs.

It may seem like a familiar script for major sporting events. As the start date nears, the headlines invariably focus on delays and the scramble to get ready on time, and yet the games end up going ahead without major hitches.

Rio 2016 may, though, end up being one of global sport’s closest calls yet, resulting in a race against time that would inevitably inflate the current 40-billion-real ($US13.2 billion) price tag and add to the burden on Brazil’s struggling economy.

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