Fiorentina President Rocco Commisso is ready to invest 250M euros for a “New Artemio Franchi Stadium” to give Florence a state-of-the-art facility with 42000 spectators, to bring Fiorentina back to the Champions League and generate a thousand new jobs. The economic impact of the intervention would be approximately 5 billion in 10 years including the growth in the club’s revenues, new third-party commercial activities, extra tax revenue, and a real estate development in the Campo di Marte neighborhood, as certified by Studio Monitor Deloitte.
Director of Monitor Deloitte Luigi Capitanio underlined how the new stadium project is characterized by full economic and financial sustainability with great benefits for the city of Florence and the whole of Italy in terms of related activities, new employment opportunities, and environmental protection. In the first place, the new plant would allow Fiorentina to diversify and increase their revenues from 93M euros recorded in the 2018-19 season to an averagely-optimistic scenario of 225 million per year, starting that growth path.
Such diversification is necessary for Fiorentina to bridge the gap with the top national and international clubs and achieve more solid financial sustainability deriving from a greater range of revenue streams compared to the TV rights component.
The 42000-seat stadium will have multiple hospitality suites / boxes, restaurants, and bars. Fiorentina could thus collect on average 225M annually – 130M per year more than in the pre-stadium era (but in the best of the hypotheses formulated by Deloitte it could reach a total of 300M per year). The increase in revenue would be driven by an improvement in sports performance and potential access to the Champions League; the corporate hospitality with 2500 seats; the sale of naming rights (estimated at 1.3M euros per year); the increase in average attendance and the alignment of prices in ticketing; the rental of new commercial spaces.
All this will also have a positive impact for the city: The Deloitte study shows that today’s 5.3M annual revenue of commercial activities generated by home games would increase to 126M thanks the brand new 50000 square meters commercial area. Even in this case, the benefits for the local economy will be considerable, as the new commercial area would be open seven days a week and – featuring retail spaces, hotels and museums – would be able to attract at least 2M people every year including fans, residents, and tourists.
Therefore, the companies that will operate both inside the stadium and outside the structure will benefit the most and take advantage of the flow of fans and non-fans, both during match-days and during the regular days of the week.
The New Artemio Franchi Stadium will possibly attract large investments in the Campo di Marte district. The real estate value in the area would increase by 25% for the residential component and by 60% for the commercial one – providing additional considerable benefits to the city, as the investments will attract more public intervention on the part of the Municipality and contribute to renewing the local infrastructures.
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