Rio cancels Olympic velodrome builder's contract

Rio de Janeiro's city government said on Monday it had cancelled its contract with the company constructing the Olympic velodrome about two months before the start of the Summer Games in Brazil, after the firm filed for bankruptcy protection. Rio-based Tecnosolo "did not have the conditions to continue being technically responsible for the construction of the velodrome," the municipal government said in a statement. The city said the change would not impact the value or delivery of the project,