Agreement reached for revamped Stadio Luigi Ferraris

Genoa and Sampdoria have signed an agreement with real estate developer, Cds Holding, that will lead to the redevelopment of the Stadio Luigi Ferraris.

The announcement of the deal yesterday (Thursday) by the Municipality of Genova, current owner of the stadium, seemingly brings to a close what has been a rocky road to a resolution on the path forward for the Ferraris, one of Italy’s most iconic football grounds.

Pietro Piciocchi, acting Mayor of Genova, said: “We are satisfied with today’s result. This gives the go-ahead to an important overall urban redevelopment operation, not only of the stadium but of all the surrounding space, which will then be at the centre of a participatory process of sharing with the territory and the neighbourhood.

“We know that coexistence with the stadium neighbourhood has always been a delicate aspect and we want this operation to also be an opportunity for development and liveability for the neighbourhood.

“We want it to be a stadium conceived also as a space for sports and entertainment, a space for young people and the beating heart of Marassi.”

The binding offer will be presented by the clubs to the Municipality by the end of March, with a public tender procedure to follow. Cds will carry out the redevelopment work based on a project drawn up by Milan-based Stefano Boeri Architetti, with the intention of improving the entire Marassi neighbourhood.

Rai reports that, for now, the agreement provides for two alternative solutions. Firstly, that Genoa and Sampdoria could assume ownership of the Ferraris on a 50-50 basis, or a new concession agreement will be drawn up. Stakeholders are hoping that work can be completed in 2029, allowing the Ferraris to be a host stadium for Italy’s staging of UEFA Euro 2032.

“Today a big step forward has been taken towards the construction of the new stadium in view of Euro 2032,” said Sports Councillor Alessandra Bianchi. “We are very satisfied that the agreement has been reached with both teams, a goal we have worked hard towards in recent months.”

In October, Genoa and Sampdoria rekindled relations over the potential acquisition and redevelopment of the Ferraris, hinting that they could now be willing to collaborate with private entities.

Genoa, of Serie A, and Sampdoria, of Serie B, in September launched Genova Stadium Srl, a new company designed to drive investment in the venue which the two teams share.

The company had the objective of formulating an offer to buy the stadium with a view to carrying out key renovation work. The company would also look to secure Stadio Luigi Ferraris’ status as a host venue during Euro 2032, which Italy will co-host alongside Turkey.

Stadio Luigi Ferraris has a capacity of around 38,000 but relations between the respective stakeholders had soured, with the two clubs announcing the pursuit of solo projects, while the Municipality detailed a separate offer for the Ferraris from CdS.

In March 2023, Piciocchi said plans were in place to redevelop the stadium on the basis that Italy secured hosting rights to Euro 2032. Italy was awarded the rights in October 2023. The stadium is one of the Italian Football Federation (FIGC)’s proposed venues for Euro 2032 but upgrades costing between €60m (£50.7m/$62.9m) and €80m are said to be required ahead of the tournament.

Commenting on the 2029 target date, Maurizio Moretti, general manager of Cds, told Ansa: “This is a premature date, also because we will have to make sure that the teams can always play (at the stadium).

“But I believe that today the new Ferraris is born, we are proud of the trust we have had from the city and these two prestigious teams. We thank Genoa and Sampdoria for (ending) this difficult path, because the derby (game) is not only on the pitch but also at a corporate level.

“But I must say that the effort that has been made up to now allows us to take an important and positive step. We thank the administration for helping us achieve this result.”

The stadium is the oldest in Italy having opened back in 1911, and it was used during the country’s staging of the 1990 FIFA World Cup. Genoa has played at the Ferraris since it opened, with Sampdoria having called the stadium home since 1946.