Financial problems plague Rio in wake of Olympic games

Rio de Janeiro (NBC) Rio de Janeiro pulled off last year's Olympics, keeping crime at bay and fending off dire forecasts of corruption, environmental degradation, and cost overruns.

But six months after South America’s first games, the flood gates have burst open.

According to the Olympic organizing committee, Rio organizers still owe creditors about $40 million.

Four of the new arenas in the main Olympic park have failed to find private-sector management, and ownership has passed to the federal government.

Another new arena will be run by the cash-strapped city with Brazil stuck in its deepest recession in decades.

The historic Maracana stadium, site of the opening and closing ceremony, has been vandalized as stadium operators, the Rio state government, and Olympic organizers have fought over $1 million in unpaid electricity bills, according to the electric supplier for the city.

The electric utility reacted by cutting off all power to the city landmark.

There are few players for a new $20 million Olympic golf course, and little money for upkeep.

Deodoro, the second-largest cluster of Olympic venues, is closed and searching for a management company.

With so many of the sites closed and falling into disrepair many are questioning the legacy of the games.

A Brazilian professor believes that the medium and long-term impact of the games was very limited.

Meanwhile, holding the games in the country was a challenge, according to the man charged with making it happen.

Many of the problems remain, and with the state of Rio de Janeiro late to pay its teachers, hospital workers, and pensions, maintaining sports arenas seems a long-shot.

The state also reports record-breaking crime in 2016 in almost all categories from homicides to robbery.