In what appears to be an ambitious project, the Italian football team Santos is looking to raise over €1.2 billion ($1.7 billion) to fund a $1 billion stadium.
The stadium, which is currently being built on the site of the former Palazzo dei Scuola in Turin, is expected to host around 150,000 spectators per match.
It will be the first stadium in the country to feature retractable seating.
“The stadium is a great success story,” the team’s president, Marco di Montezemolo, said in a statement.
“It has proved that there is a world class football market that is not only within our reach but is also very attractive to us.
Santas’ plans are not only a good idea but also very ambitious.”
The plan for the stadium has been in the works for some time, according to the Italian media, with Di Montezeminos team first meeting with architects and construction company Becton-Dickenson last October.
But the Italian side was unable to raise enough funds to fund the stadium’s construction, according to a report in Il Sole 24 Ore, a newspaper owned by the Italian Football Federation.
In order to finance the stadium, the team has been asking for donations to the local community, with one source saying the club has raised over €500,000 from over 1,400 individuals.
Becton – Dickenson, the firm that built the stadium and has been contracted by Santos to build the stadium for the next 30 years, declined to comment to the newspaper.
Di Montezemeno and his team will be aiming to break ground on the stadium in 2021, with the club planning to hold their inaugural match in 2021 against Juventus.