Here's the catch:
Libya is one of 5 African bidders for the 2010 World Cup Soccer tournament, which is to be the first ever held in Africa. The decision comes in May 2004. We'll see how Libya reacts after they are not awarded the games and the billions of dollars in revenue that come with it.
FIFA inspects Libya's 2010 World Cup bid
TRIPOLI, Libya (AP) - A six-member team from FIFA has ended its inspection tour to evaluate Libya's bid to host the 2010 World Cup.
"We have visited all the towns that are supposed to host the 2010 World Cup and inspected the sites of the stadiums which will be built for this event," Jan Peeters, the team's leader told reporters. Libya has allocated $8 billion US for the construction of eight new stadiums in six towns, and for other infrastructure works of renovation.
Peeters, also president of Belgium's soccer federation, said senior Libyan financial officials have expressed readiness to submit guaranteed bonds for the allocated money.
Libya is one of five African candidates - along with front-runner South Africa, Morocco, Tunisia and Egypt - hoping to host soccer's showcase event. FIFA has reserved the 2010 World Cup for an African country. The continent has never before hosted the event.