Roma to have €1bn ‘Colosseum’

AS Roma, the first foreign-owned Italian club, are planning a new glass and steel stadium inspired by Rome’s Colosseum, the world’s largest ampitheatre.   The club does not currently own its ground, playing in the former national Olympic stadium which it shares with local rivals Lazio.

AS Roma, the first foreign-owned Italian club, are planning a new glass and steel stadium inspired by Rome’s Colosseum, the world’s largest ampitheatre.   The club does not currently own its ground, playing in the former national Olympic stadium which it shares with local rivals Lazio.

A controlling stake in AS Roma was acquired in 2012 by Boston-based hedge fund manager James Pallotta, chairman of the Raptor Group.   The objective was to return the club to profitability by inroducing US-style branding and management.   The club is currently second behind Juventus in Serie A with the chance of a Champions League place.

The estimated cost of the new stadium is €300bn, but when the cost of the adjacent sports village and infrasrtructure is taken into account, it could cost €1bn.   The objective would be to have the stadium ready for the start of the 2016/17 season, but one can expect construction delays.

Goldman Sachs is arranging finance with a mixture of bank loans and equity.  Preliminary talks are being held with investors from China.   The project is strongly backed by the mayor of the near-bankrupt city of Rome, Ignazio Marino, who no doubt welcomes some good news for once.