Italian Serie A football club Atalanta has purchased the rights to its Stadio Atleti Azzurri d’Italia home stadium.
According to the Reuters news agency, the club yesterday (Wednesday) had a bid of €8.6m ($9.4m/£7.2m) accepted, while a rival offer from Albinoleffe was not considered. The city government said the Atalanta bid was 10 per cent more than the initial asking price.
Atalanta becomes only the fourth Serie A team to have full control of its stadium, alongside Juventus, Sassuolo and Udinese, and will now be able to progress with development plans.
Public ownership of stadiums in Italy prevent clubs from upgrading the venue or making money from retail stores, restaurants and live entertainment events.
The terms of the sale state that the facility, which was opened in 1928 and has a capacity of 26,500, must be redeveloped within the next six years.