ROME (Reuters) - Serie A club AS Roma have cancelled plans to build a new stadium in the south of the Italian capital, saying the much delayed project was no longer economically viable.
Roma first unveiled plans for a 55,000-capacity stadium in the Tor di Valle area almost seven years ago, but it was dogged by political and bureaucratic problems.
The top-flight outfit on Friday announced they were shelving their plans, saying conditions were no longer favourable and the project would be impossible to complete.
“The board of directors, after examining the analysis carried out by advisors, acknowledged that financial, economic and legal conditions for the project prevent further progress," said a club statement.
"They also noted that the COVID-19 pandemic has radically changed the international economic scenario, including the financial prospects of the stadium project.”
Like most Italian clubs, Roma are currently tenants in their stadium, sharing the Stadio Olimpico with neighbours Lazio.
But Roma added that they intend to continue engaging with authorities “to create a green, sustainable and integrated stadium” in the future, without specifying a time frame.