Italian Serie A football clubs Genoa and Sampdoria have reached a formal agreement to assume management of the Stadio Luigi Ferraris, the arena they share.

The municipality of Genoa had owned the ground but will now hand control over to the stadium consortium set up by the two clubs last year.

Genoa and Sampdoria will carry out redevelopment work at the stadium after assuming ownership, with the press box, dressing rooms and hospitality areas said to be areas that require attention. The Genova Repubblica website said the work would not begin until next summer.

The two clubs have also been guaranteed the right to play at the ground until at least 2022.