The velodrome is yet to be completed, despite the fact that the Games are due to start in August.
With just 80 days to go before the start of the Olympics, Rio's City Government has decided to take drastic measures in order to speed up the construction of one of the venues.
The velodrome, which will host the cycling events at this year's Olympic Games, is yet to be completed despite the fact that it is due to host an event in the first week of August.
According to UOL, the venue was due to be completed by the end of 2015 and Tecnosolo, the company who won the contract to complete the venue, has been fined R$ 428,000 (€106,000) for the continued delays to the project.
RioUrbe will be in charge of finishing the venue, which is believed to be about 85% of the way towards completion. They have already started work on the velodrome, after being subcontracted by Tecnosolo in recent weeks to assist with the project.
In a statement, the government said that the contract was being broken as a result of the fact that the company would be unable to complete the work because they were also in receivership.