Lazio, through their president Claudio Lotito, have presented the economic and financial plan to refurbish the Stadio Flaminio, which will cost 438 million euros.
Lazio want to move stadium in the next few years. In fact, they already have one, as it will be the Stadio Flaminio, located on the outskirts of Rome. In this way, they will no longer be Roma’s neighbours at the Olimpico.
Claudio Lotito, president of the ‘Laziale’ club, presented the project for the remodelling of the stadium to the City Council of the Italian capital, which will increase its capacity to more than 50,000 spectators and will cost 438.2 million euros, reported ‘Il Messaggero’.
The aim is to complete work on the new stadium in the first half of 2029, and to use the Flaminio as a venue for the European Championship that Italy will host alongside Turkey in 2032.
Lotito also explained Lazio’s payment plan for their new stadium. Of the 438 million, 283 million will be a 30-year mortgage, while 85.6 million will be self-financed and there will be another 24 million in public contributions, while the rest corresponds to VAT.
To recoup the investment, the Roman outfit will sell the VIP seats for a value of 3.9 million per year, plus another half a million in VAT, plus 800,000 euros per year for the naming fee in the first two years, which will increase as the seasons go by.
This would put an end to Roma and Lazio’s neighbourhood at the Olimpico, one of the most mythical stadiums, if not the most mythical, in Italian football throughout history.