Bologna have reached a major agreement over plans for a new 35,000-capacity stadium at the BolognaFiere exhibition grounds.
The ambitious £256m project could also play a key role in the city's bid to host Euro 2032.
Major breakthrough for Bologna and their stadium project ahead of Euro 2032
Bologna FC and BolognaFiere have reached an agreement to push ahead with the proposed new stadium, bringing the project a significant step closer to reality.
The suggested venue is planned to feature a retractable roof and movable pitch, allowing the playing surface to be stored beneath the stands when football is not being played.
That would enable the stadium to operate as a year-round indoor arena, hosting concerts, congresses, trade fairs and other major events alongside Bologna matches.
The project was initially estimated to cost around €280m but has risen to approximately €300m (£256m) following the addition of the retractable roof and movable-pitch systems.
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BolognaFiere has committed €50m (£42m) towards the project, while owner Joey Saputo is expected to contribute a further £42m.
Other investors and potential financing partners are also being sought, with public funding potentially available if Bologna is selected as one of the seven Euro 2032 host cities.
The proposed stadium is expected to be completed in spring 2031, giving Bologna enough time to prepare for the tournament if their bid is successful.
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This is a hugely ambitious project, but the decision to make the stadium suitable for far more than football could prove crucial to its long-term viability.
A retractable roof and movable pitch would allow Bologna to create a genuine multi-purpose venue capable of generating revenue throughout the year, rather than leaving a £256m stadium dependent solely on matchdays.
The Euro 2032 opportunity adds another major incentive, but the real success of this project will be measured by whether Bologna can turn their futuristic plans into a financially sustainable stadium for the city and club.