Serie A club Fiorentina has submitted a financing proposal to the Florence City Council for the second phase of the redevelopment of Stadio Artemio Franchi.
The Florence City Council has approved a resolution formally acknowledging the start of the process following the proposal submitted by the club. The move also supports Florence’s bid to become a host city for UEFA Euro 2032, which Italy is scheduled to co-host with Türkiye.
The council said the process would proceed on two parallel tracks: the legal and administrative procedure linked to Fiorentina’s proposal, and the work required to confirm Florence’s candidacy for Euro 2032. The redevelopment of the Franchi remains the central objective of both processes.
Fiorentina seeking 90-year concession
According to local reports, Fiorentina is targeting a 90-year concession agreement for the stadium, which is owned by the Florence City Council.
The club’s proposal includes a €55 million investment to help finance the second phase of the redevelopment. The remaining funding required to complete the stadium is estimated at around €110 million.
The proposal will now be examined by the council, while city officials have been tasked with preparing the technical, administrative and financial documentation required by UEFA and the Italian Football Federation (FIGC) by July 31.
Redevelopment targeted for 2029 completion
Fiorentina said last month that it was “absolutely interested” in becoming directly involved in the redevelopment project. The club had already expressed its willingness in April to contribute €55 million towards the next phase of the work.
The redevelopment of the stadium began in 2024, with Fiorentina continuing to play its home matches at the Franchi during the construction period, albeit with reduced capacity.
The first phase of the project is expected to be completed by the end of April 2027. It includes renovations to the Curva Fiesole and sections of the Maratona and Tribuna areas.
The second phase is expected to focus on the southern section of the stadium, including Curva Ferrovia. The full redevelopment is targeted for completion in 2029, with the stadium expected to be ready for the 2029-30 season.