Three-time Italian soccer champion AS Roma said it expects to be playing in a new stadium in 2016 after agreeing on a location in the southwest of the capital.
The privately funded facility in Tor di Valle will seat between 55,000 and 60,000 spectators, Roma said on its website.
The announcement of the stadium’s location comes 500 days after James Pallotta led a group of fellow U.S. investors in taking control of the Serie A team.
“As we all know, it’s been a long process but from the new ownership point of view we’ve been working on it for the last year,” Roma President Pallotta said in Orlando, Florida, where the team is training during the winter break. “It shows our belief in Italy and the Italian economy.”
Roma’s plan comes after the country’s most successful team, Turin-based Juventus, last season became the first top-level Italian club to play in a stadium that it owns. Roma and city rival Lazio currently rent the Stadio Olimpico. Inter Milan has also said it intends to build a new stadium.
Matches in Italy attract fewer fans than those in Germany and England with hooliganism and poor facilities cited for the lower attendances. Roma made about 15 million euros ($19.8 million) in matchday ticket sales last season when it finished seventh, according to an annual filing for the year ended June 2012 that also revealed a net loss of 58.5 million euros.
Roma, which won its last league championship in 2001, is currently sixth in Serie A.
The club didn’t specify the cost of the new stadium.