The City of Florence has declared Fiorentina’s proposal to complete the redevelopment of the Stadio Artemio Franchi to be in the public interest. The plan includes around €101 million in private investment and a 60-year concession for the stadium’s future operator.
The approval is conditional on requirements designed to ensure the project’s financial sustainability and protect the stadium as a public asset. Under the proposed arrangement, the future concessionaire would assume all management and maintenance costs for the entire stadium complex.
Fiorentina submitted its financing proposal for the second phase of the redevelopment in July. While the club had reportedly been seeking a 90-year concession from the city, the latest proposal sets the term at 60 years.
Of the approximately €101 million in private investment, around €54 million would fund the completion of redevelopment work. A further €47 million is earmarked for the so-called Wave 3 project, covering the final installation of facilities, services and commercial spaces.
The proposal also includes maintenance of the stadium’s historic structures, which are protected as cultural heritage. The future operator would be required to reserve the stadium for city-led public initiatives for 20 days each year.
Florence will launch a public tender for operators interested in completing the remaining work and managing the venue. A model involving two separate companies has also been reported: one focused on sporting events and the other on commercial operations.
A key step towards Euro 2032
The redevelopment is also significant for Florence’s ambition to become a host city for UEFA Euro 2032, which Italy will co-host with Turkey.
Fiorentina has played at the Stadio Artemio Franchi since it opened in 1931. Redevelopment work began in 2024, with the club continuing to play at the venue throughout construction, albeit at reduced capacity.
The first phase is targeted for completion by the end of April 2027. It includes renovation work on the Curva Fiesole and sections of the Maratona and Tribuna stands. Work on the stadium’s southern section, including the Curva Ferrovia, is scheduled to follow.
The second phase is expected to be completed in 2029, with the stadium targeted to be ready for the 2029-30 season. The proposed financing structure would give Fiorentina a long-term role in the venue’s operation while retaining conditions intended to safeguard the stadium’s public ownership and historic features.