AS Roma's American owners have taken a significant step forward in their goal of developing a new home for the Italian Serie A football club by announcing plans to build a stadium in Rome in readiness for the 2016-17 season, reports Sport Business. The location for the new stadium will be Tor di Valle in the southwest part of the city.
Roma's new stadium will have a capacity of 55,000 to 60,000 and will be developed and managed by leading Italian real estate firm Grupo ParsItalia.
Club officials have stated that more than 100 sites were considered for the stadium and while financial details were not disclosed, the project will be entirely privately funded. The club will also consider entering into a naming rights partnership for the new venue.
"Building a new stadium for AS Roma has always been our goal," said Pallotta.
"We will construct a stadium that will deliver an unparalleled experience for our passionate and loyal fans, as well as one capable of hosting a Champions League final in the near future. This will also provide global brands the opportunity to reach a worldwide audience through this truly unique platform - elite football in Rome in a world-class stadium."
Luca Parnasi, CEO of Grupo ParsItalia, added: "The construction of a new stadium for AS Roma will not only strengthen the team's global presence; it will also contribute to the revitalisation of the distressed Italian economy, creating more than 1,000 jobs in the next 24 months.
"I thank all the institutions, from the Municipality of Rome to the Lazio Region and all the other Italian institutions who will give their total support for the project and demonstrate to foreign investors that projects of this size can be a great success in Italy."