Roma shelve plans for long-delayed stadium project
Reuters
Published Feb 26, 2021 21:11
Updated Feb 26, 2021 21:45
ROME (Reuters) - Serie A club AS Roma have cancelled plans to build a new stadium in the south of the Italian capital, saying the much delayed project was no longer economically viable.
Roma first unveiled plans for a 55,000-capacity stadium in the Tor di Valle area almost seven years ago, but it was dogged by political and bureaucratic problems.
The top-flight outfit on Friday announced they were shelving their plans, saying conditions were no longer favourable and the project would be impossible to complete.
“The board of directors, after examining the analysis carried out by advisors, acknowledged that financial, economic and legal conditions for the project prevent further progress," said a club statement.
"They also noted that the COVID-19 pandemic has radically changed the international economic scenario, including the financial prospects of the stadium project.”
Like most Italian clubs, Roma are currently tenants in their stadium, sharing the Stadio Olimpico with neighbours Lazio.
But Roma added that they intend to continue engaging with authorities “to create a green, sustainable and integrated stadium” in the future, without specifying a time frame.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.