The board members at Campeonato Brasileiro Serie A football club Santos have approved the project to build a new stadium in partnership with engineering company WTorre.
The Arena Vila Belmiro will have a capacity of 30,000 and will be built on the site of the club’s current home, the Estádio Urbano Caldeira.
Santos said the project was “practically unanimously” approved by board members following a meeting with WTorre chief executive Claudio Macedo and architect Luiz Volpato.
The next step will be a general assembly meeting on December 17, which will see members vote on the partnership between Santos and WTorre. The stadium is expected to cost BRL300m (£47m/€54m/$57m), with WTorre to operate the venue under a 30-year contract.
Santos president Andres Rueda said: “We are moving towards modernity, ensuring that Santos FC adapts to the future and generates a better structure for its fans. We keep moving forward, always looking for the best for Santos.”
Santos announced in October that the club would be pressing ahead with plans for its new stadium following a meeting with WTorre, which later made an official presentation of the project to board members.
In August last year, Santos renewed a Memorandum of Understanding with WTorre to explore the possibility of a new 30,000-seat stadium.
Santos signed an initial MoU with WTorre in September 2020. That agreement was only valid for one year and the latest MoU has seen the two parties continue discussions on a potential new stadium.
WTorre oversaw the construction of Allianz Parque, home of São Paulo-based Palmeiras. The company’s Properties division also operates Allianz Parque, which opened in 2014.