Campeonato Brasileiro Série A football club Atlético Mineiro is set to begin work on a new stadium after securing approval for the project.

Representatives for the Brazilian team were present at a local council meeting yesterday (Monday) for a deciding vote on the matter, with 325 councillors voting in favour of the project and just 12 against. The club only required 260 ‘yes’ votes to win approval for the work.

Atlético Mineiro plans to begin construction on the Arena MRV (pictured) next year. The team’s new home will boast a capacity of 42,000, as well as a range of modern facilities, the details of which will be announced at a later date.

To help finance the project, Atlético Mineiro intends to sell 50 percent of the Diamond Mall, which is built on land owned by the club, for approximately R250m (€66.4m/$79.7m/£58.9m).

According to Maquina do Esporte, the sale of the Diamond Mall stake will raise more than half of the funds required to complete the new stadium, which will be built in the Belo Horizonte area of Minas Gerais.

Reports also suggest that the club will raise an additional R60m in construction funds by selling naming rights to the new stadium on a 10-year contract.

Image: Club Atlético Mineiro