March 2 – Italian top-flight soccer club AS Roma have abandoned plans for a new stadium, after suffering a net loss of €74.8 million for the last six-month financial period ending at the end of December 2020.
In February, local authorities in the Italian capital greenlighted plans for the Stadio della Roma, with a plan of raising a mammoth of €1 billion ($1.2 billion) in private financing, but those plans, pushed by AS Roma’s American owner of the time James Pallotta, have now been shelved given the impact of the Covid-19 crisis.
The new ownership Friedkin Group said the plans are off because of the unsuitable ‘financial, economic, legal and factual conditions’, as well as Covid-19 radically changing the ‘international economic scenario’.
Their latest financial results revealed another loss of €74.8 million, which was an improvement from the €87 million loss the club announced in December 2019. Revenue went up from €94.6 million to €98.7 million.
Contact the writer of this story, Samindra Kunti, at moc.l1656473292labto1656473292ofdlr1656473292owedi1656473292sni@o1656473292fni1656473292