Bologna FC is looking for financial oxygen.
Second Football and Financethe Serie A team is looking for investors, both public and private, to finance the redevelopment of the Dall’Ara stadium.
The initial budget was 130 million euros, of which 90 million were paid by the company itself (for the renovation of the stadium and the construction of the temporary pitch in the Caab area) and 40 million by the public coffers.
Increase in costs
“However, due to the increase in construction costs, it is necessary to bring the project back to an economic-financial rebalancing, which, given the increase in current prices, has failed”, explained the club’s general director, Claudio Fenucci, in a meeting with the press. The new budget is estimated at around 200 million euros.
The next step will be the approval of the new budget by the city council.
“It is a step forward, but there is still some way to go because some elements need to be perfected, both in terms of administrative and management procedures and in terms of the Economic-Financial Plan (PEF)”underlined Fenucci.
For his part, team owner Joey Saputo added:
“We are looking for new investors who can support the project”while recognizing that “the option of public intervention is on the table”in view of Euro 2032.
Parma and Milan too
Bologna FC is not the only club to modernize its stadium. In Italy, Parma FC and Milan have both designed new stadiums.
The Serie B team will invest 138 million euros in the redevelopment of the Tardini stadium.
This amount for the facility, owned by the Municipality of Parma, will be paid entirely by the club in exchange for managing the stadium for ninety years.
For its part, the Rossoneri club received around 40 million euros from ACM Bidco BV in October to carry forward the new stadium project.
The objective of the capital increase was to cover expenses and investments related to the new stadium project and strengthen the capital of the parent company, as we learn from an internal document.
Tags: Bologna investors renovate stadium
