Roma president James Pallotta is, according to Il Tempo, ready to pay nearly €90 million to take over Euronova’s shares in the Tor di Valle stadium project. Euronova, the real estate development company that partnered with Roma for the Stadio della Roma, is owned by Luca Parnasi — one of the men arrested in June following the anti-corruption investigation conducted by the Prosecutor’s Office of Rome.
Reportedly, the negotiations between Pallotta and Eurnova are close and nearing a turning point. AS Roma would not directly take over the shares from Euronova, rather Stadio TdV SpA, the company based in Milano that was specifically created to deal with the dossier and is owned by James Pallotta. First, we must see if Pallotta overtakes the shares from Euronova or if he directly acquires the entire company, which is an option. In both cases, the second step would be to identify a new developer for the project. This means finding someone able to manage the drafting, publication and management of the public works portion; prepare, in cooperation with state supervision, the archaeological excavation campaign, and carry out the reclamation of the entire area from waste.
Given the time necessary for all of this, it’s likely the construction can begin by late 2019.
