The Bologna stadium project is in need of public and private investment to help finalise the renovation of the Stadio Renato Dall’Ara, according to the club's CEO.
It is estimated that construction costs for the building of a temporary stadium and the renovations at Dall’Ara have increased by 40%.
Costi più alti per i cantieri, il #Bologna va a caccia di investitori per il nuovo stadio https://t.co/9e4IhkbKfq
— Calcio e Finanza (@CalcioFinanza) April 17, 2024
Costs increasing for Bologna stadium project
The Bologna stadium project was presented to the Mayor in July 2023 that they are building a 16,000-capacity temporary stadium with the aim of completing it by 2025. At the same time, the redevelopment of the Dall’ Ara was scheduled to begin in the summer of 2025, with the plan to complete it in the spring of 2027.
Originally, the estimated budget of these plans was £90 million paid by Bologna and £40 million paid by the Municipality. However, costs have now increased, prompting Bologna CEO Claudio Fenucci to announce that it is necessary to “bring back the project to an economic-financial rebalancing which, given the rise in prices today, has failed a little.”
Fenucci admitted that the project “has undergone significant revisions and is still the subject of adjustments today, “with the aim of “configuring an economically sustainable work.” He added the price of the project is “constantly changing” and that “there is no need to give figures”.
The cost of construction sites in recent years has seen an increase of up to 40%. As a result, it is estimated that the overall construction cost has increased up to nearly £200 million.
Looking for new investors
In the face of these increasing costs, Fenucci said that the club were looking for “other investors who we are trying to bring into the initiative”. As well as this, he called for a “public intervention” in relation to Italy’s national plan for the redevelopment of stadiums for the 2032 European Championships, which the Azzuri will co-host with Turkey. Bologna will present the project to the interinstitutional committee, which was established by the Italian government next week.
Bologna hope that public resources can help to provide the additional £40 million needed to finalise the project. Mayor of Bologna, Matteo Lepore, said that any investment will be “very attractive” due to the club’s recent success. Thiago Motta’s side currently sit fourth in the Serie A table and look set to secure European football for the upcoming season.
Fenucci also added that the construction work on the temporary stadium would most likely last one year, while it would take two years to fully renovate the Dall’ Ara.